ATLANTA (AP) _ Cousins Properties Inc. (CUZ) on Thursday reported a key measure of profitability in its first quarter. The results topped Wall Street expectations.

The Atlanta-based real estate investment trust said it had funds from operations of $112.7 million, or 76 cents per share, in the period.

The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 70 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 net income of $174.9 million, or $1.18 per share.

The real estate company posted revenue of $193.9 million in the period. Its adjusted revenue was $189.1 million, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $188.3 million.

The company's shares have declined 27% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $30.11, a decline of 20% 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 CUZ at https://www.zacks.com/ap/CUZ

Automated Insights, source Associated Press News