GLENDALE, Calif. (AP) _ PS Business Parks Inc. (PSB) on Tuesday reported a key measure of profitability in its third quarter.
The real estate investment trust, based in Glendale, California, said it had funds from operations of $59.7 million, or $1.71 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 $26.3 million, or 96 cents per share.
The office and industrial space real estate investment trust posted revenue of $108.1 million in the period.
The company's shares have risen 47% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $192.13, a rise of 57% in the last 12 months.