JERICHO, N.Y. (AP) _ Kimco Realty Corp. (KIM) on Thursday reported a key measure of profitability in its first quarter. The results topped Wall Street expectations.

The real estate investment trust, based in Jericho, New York, said it had funds from operations of $144.3 million, or 33 cents per share, in the period.

The average estimate of 11 analysts surveyed by Zacks Investment Research was for funds from operations of 30 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 $131.6 million, or 30 cents per share.

The real estate investment trust posted revenue of $282.3 million in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $263 million.

Kimco Realty expects full-year funds from operations to be $1.22 to $1.26 per share.

The company's shares have increased 39% since the beginning of the year, while the S&P's 500 index has risen 11%. The stock has more than doubled 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 KIM at https://www.zacks.com/ap/KIM

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