NEW YORK (AP) _ Columbia Property Trust Inc. (CXP) on Thursday reported a key measure of profitability in its first quarter.
The real estate investment trust, based in New York, said it had funds from operations of $45.2 million, or 39 cents per share, in the period.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $6.3 million, or 5 cents per share.
The real estate investment trust posted revenue of $76.3 million in the period.
The company's shares have declined 32% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $14.29, a fall of 37% in the last 12 months.