JERSEY CITY, N.J. (AP) _ Mack-Cali Realty Corp. (CLI) on Wednesday reported a key measure of profitability in its third quarter. The results exceeded Wall Street expectations.

The Jersey City, New Jersey-based real estate investment trust said it had funds from operations of $17.5 million, or 17 cents per share, in the period.

The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 13 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 a loss of $28.3 million, or 33 cents per share.

The real estate investment trust posted revenue of $83.7 million in the period.

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