PHOENIX (AP) _ Vereit Inc. (VER) on Thursday reported a key measure of profitability in its second quarter. The results matched Wall Street expectations.

The real estate investment trust, based in Phoenix, said it had funds from operations of $161.1 million, or 15 cents per share, in the period.

The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 15 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 $54.2 million, or 4 cents per share.

The real estate investment trust posted revenue of $279 million in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $280.4 million.

The company's shares have fallen 29% since the beginning of the year. The stock has fallen 27% 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 VER at https://www.zacks.com/ap/VER

Automated Insights, source Associated Press News