SL Green: Q3 Earnings Snapshot

NEWYORK, N.Y. (AP) — NEWYORK, N.Y. (AP) — SL Green Realty Corp. (SLG) on Wednesday reported a key measure of profitability in its third quarter. The results missed Wall Street expectations.

The real estate investment trust, based in Newyork, New York, said it had funds from operations of $87.7 million, or $1.27 per share, in the period.

The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of $1.28 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 $24 million, or 38 cents per share.

The commercial real estate investment trust, based in Newyork, New York, posted revenue of $173.2 million in the period. Its adjusted revenue was $131.5 million, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $143.8 million.

SL Green expects full-year funds from operations to be $5.05 to $5.35 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 SLG at https://www.zacks.com/ap/SLG