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RPT Realty: 3Q Earnings Snapshot

·1 min read

NEW YORK (AP) _ RPT Realty (RPT) on Wednesday reported a key measure of profitability in its third quarter. The results did not meet Wall Street expectations.

The real estate investment trust, based in New York, said it had funds from operations of $15.2 million, or 19 cents per share, in the period.

The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 20 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 $3.6 million, or 5 cents per share.

The shopping center real estate investment trust posted revenue of $46.5 million in the period.

The company's shares have decreased 66% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $5.05, a fall of 66% in the last 12 months.

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