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Columbia: 3Q Earnings Snapshot

·1 min read

NEW YORK (AP) _ Columbia Property Trust Inc. (CXP) on Thursday reported a key measure of profitability in its third quarter.

The New York-based real estate investment trust said it had funds from operations of $48.8 million, or 42 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 $5.4 million, or 5 cents per share.

The real estate investment trust posted revenue of $82.1 million in the period.

Columbia expects full-year funds from operations in the range of $1.51 to $1.54 per share.

The company's shares have fallen 49% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $10.62, a decline of 47% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CXP at https://www.zacks.com/ap/CXP