NEW YORK (AP) _ W.P. Carey Inc. (WPC) on Friday reported a key measure of profitability in its third quarter.
The New York-based real estate investment trust said it had funds from operations of $224.2 million, or $1.30 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 $41.3 million, or 24 cents per share.
The real estate investment trust posted revenue of $302.8 million in the period.
W.P. Carey expects full-year funds from operations in the range of $4.95 to $5.01 per share.
The company's shares have risen 41% since the beginning of the year. The stock has increased 39% 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 WPC at https://www.zacks.com/ap/WPC
Automated Insights, source Associated Press News