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 $10.1 million, or 32 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 $1.4 million, or 4 cents per share.
The real estate investment trust posted revenue of $28.3 million in the period.
Whitestone expects full-year funds from operations in the range of $1.34 to $1.39 per share.
The company's shares have dropped 15 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $12.17, a decline of 10 percent 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
Keywords: Whitestone, Earnings Report