HOUSTON (AP) _ Whitestone Reit (WSR) on Wednesday reported a key measure of profitability in its first quarter.
The real estate investment trust, based in Houston, said it had funds from operations of $11.8 million, or 28 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 net income of $2.8 million, or 7 cents per share.
The real estate investment trust posted revenue of $29.7 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $31.2 million.
Whitestone expects full-year funds from operations in the range of $1.06 to $1.10 per share.
The company's shares have increased 2.5% since the beginning of the year. The stock has climbed 14% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WSR at https://www.zacks.com/ap/WSR