Farmland Partners: Q1 Earnings Snapshot

DENVER (AP) — DENVER (AP) — Farmland Partners Inc. (FPI) on Wednesday reported a key measure of profitability in its first quarter. The results met Wall Street expectations.

The Denver-based real estate investment trust said it had funds from operations of $1.6 million, or 3 cents per share, in the period.

The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 3 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 net income of $857,000, or 2 cents per share.

The real estate investment trust specializing in farmland, based in Denver, posted revenue of $12.7 million in the period, which also matched Street forecasts.

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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 FPI at https://www.zacks.com/ap/FPI