DENVER (AP) _ Farmland Partners Inc. (FPI) on Wednesday reported a loss in funds from operations in its first quarter, after reporting a profit in the same period a year earlier. The results missed Wall Street expectations.
The real estate investment trust, based in Denver, said it had a funds from operations loss of $1 million, or 3 cents per share, in the period.
The average estimate of three analysts surveyed by Zacks Investment Research was for a funds from operations loss of 2 cents per share.
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 a loss of $3.1 million, or 10 cents per share.
The real estate investment trust specializing in farmland posted revenue of $10.9 million in the period.
The company's shares have risen 40% since the beginning of the year. The stock has fallen 17% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FPI at https://www.zacks.com/ap/FPI