BOSTON (AP) _ Boston Properties Inc. (BXP) on Tuesday reported a key measure of profitability in its second quarter. The results topped Wall Street expectations.

The real estate investment trust, based in Boston, said it had funds from operations of $268.6 million, or $1.72 per share, in the period.

The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of $1.61 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 $111.7 million, or 71 cents per share.

The real estate investment trust posted revenue of $713.8 million in the period. Its adjusted revenue was $684 million.

The company's shares have risen 23% since the beginning of the year, while the S&P's 500 index has climbed 17%. In the final minutes of trading on Tuesday, shares hit $116.24, an increase of 30% 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 BXP at https://www.zacks.com/ap/BXP

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