DALLAS (AP) — DALLAS (AP) — NexPoint Residential Trust Inc. (NXRT) on Tuesday reported a key measure of profitability in its third quarter.

The Dallas-based real estate investment trust said it had funds from operations of $20 million, or 76 cents per share, in the period.

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 $33.7 million, or $1.28 per share.

The real estate investment trust, based in Dallas, posted revenue of $69.8 million in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $70.6 million.

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