BETHESDA, Md. (AP) _ JBG Smith Properties (JBGS) on Tuesday reported a key measure of profitability in its first quarter.
The Bethesda, Maryland-based real estate investment trust said it had funds from operations of $52.1 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 $42.9 million, or 32 cents per share.
The real estate investment trust, based in Bethesda, Maryland, posted revenue of $158.1 million in the period.
The company's shares have decreased 18% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $32.59, a decrease of 22% in the last 12 months.