CHICAGO (AP) _ Equity Lifestyle Properties Inc. (ELS) on Monday reported a key measure of profitability in its first quarter.

The real estate investment trust, based in Chicago, said it had funds from operations of $113.3 million, or 59 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 $66.9 million, or 37 cents per share.

The resort community operator posted revenue of $280.5 million in the period.

The company's shares have dropped 14% since the beginning of the year. In the final minutes of trading on Monday, shares hit $60.68, a rise of 6% 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 ELS at https://www.zacks.com/ap/ELS

Automated Insights, source Associated Press News