DALLAS (AP) _ NexPoint Residential Trust Inc. (NXRT) on Thursday reported a key measure of profitability in its first quarter.

The real estate investment trust, based in Dallas, said it had funds from operations of $15.3 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 $28 million, or $1.08 per share.

The real estate investment trust posted revenue of $52.6 million in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $53 million.

The company's shares have decreased 33% since the beginning of the year. The stock has declined 23% 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 NXRT at https://www.zacks.com/ap/NXRT

Automated Insights, source Associated Press News