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

The Boston-based real estate investment trust said it had funds from operations of $270.5 million, or $1.73 per share, in the period.

The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of $1.70 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 $108.3 million, or 69 cents per share.

The real estate investment trust posted revenue of $730.1 million in the period. Its adjusted revenue was $692.3 million.

Boston Properties expects full-year funds from operations to be $6.50 to $6.52 per share.

The company's shares have risen 26% since the beginning of the year, while the S&P's 500 index has risen 22%. In the final minutes of trading on Tuesday, shares hit $118.69, a rise of 57% 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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