Piedmont Office: Q1 Earnings Snapshot

ATLANTA (AP) — ATLANTA (AP) — Piedmont Office Realty Trust Inc. (PDM) on Monday reported a key measure of profitability in its first quarter.

The Atlanta-based real estate investment trust said it had funds from operations of $56.3 million, or 46 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 a loss of $1.4 million, or 1 cent per share.

The commercial real estate investment trust, based in Atlanta, posted revenue of $142.4 million in the period.

Piedmont Office expects full-year funds from operations in the range of $1.80 to $1.90 per share.

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