NEW YORK (AP) _ Outfront Media Inc. (OUT) on Thursday reported a key measure of profitability in its second quarter.

The real estate investment trust, based in New York, said it had funds from operations of $39.6 million, or 27 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 $900,000, or 5 cents per share.

The billboard, transit and digital display advertising company, based in New York, posted revenue of $341 million in the period, surpassing Street forecasts. Three analysts surveyed by Zacks expected $327.8 million.

The company's shares have increased 23% since the beginning of the year. The stock has increased 64% 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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