LOS ANGELES (AP) _ Hudson Pacific Properties Inc. (HPP) on Wednesday reported a key measure of profitability in its first quarter. The results topped Wall Street expectations.

The Los Angeles-based real estate investment trust said it had funds from operations of $73.5 million, or 48 cents per share, in the period.

The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 45 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 $5 million, or 3 cents per share.

The real estate investment trust posted revenue of $192.1 million in the period.

For the current quarter ending in July, Hudson Pacific expects its per-share funds from operations to range from 46 cents to 48 cents.

The company's shares have risen 13% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $27.20, an increase of 18% 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 HPP at https://www.zacks.com/ap/HPP

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