NEW YORK (AP) _ Outfront Media Inc. (OUT) on Tuesday reported a loss in a key measure in its first quarter.
The real estate investment trust, based in New York, said it had a funds from operations loss of $24.5 million, or 17 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 a loss of $67.7 million, or 52 cents per share.
The billboard, transit and digital display advertising company, based in New York, posted revenue of $259.2 million in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $271.3 million.
The company's shares have increased 27% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $24.84, a climb of 75% 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 OUT at https://www.zacks.com/ap/OUT
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