SALT LAKE CITY (AP) _ Extra Space Storage Inc. (EXR) on Wednesday reported a key measure of profitability in its third quarter. The results surpassed Wall Street expectations.

The Salt Lake City-based real estate investment trust said it had funds from operations of $261.7 million, or $1.85 per share, in the period.

The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of $1.71 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 $188.3 million, or $1.40 per share.

The self-storage facility real estate investment trust posted revenue of $412.5 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $406.7 million.

Extra Space Storage expects full-year funds from operations in the range of $6.75 to $6.85 per share.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EXR at https://www.zacks.com/ap/EXR

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