NEW YORK (AP) _ RPT Realty (RPT) on Monday reported a key measure of profitability in its first quarter. The results matched Wall Street expectations.
The real estate investment trust, based in New York, said it had funds from operations of $23.2 million, or 26 cents per share, in the period.
The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 26 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 $1.3 million, or 2 cents per share.
The shopping center real estate investment trust posted revenue of $52.9 million in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $58.1 million.
The company's shares have declined 61% since the beginning of the year. In the final minutes of trading on Monday, shares hit $5.86, a fall of 53% in the last 12 months.