NEW YORK (AP) _ RPT Realty (RPT) on Wednesday reported a key measure of profitability in its first quarter. The results met Wall Street expectations.

The New York-based real estate investment trust said it had funds from operations of $15.7 million, or 19 cents per share, in the period.

The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of 19 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 $15.2 million, or 19 cents per share.

The shopping center real estate investment trust posted revenue of $50.1 million in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $47.8 million.

RPT Realty expects full-year funds from operations in the range of 81 cents to 89 cents per share.

The company's shares have risen 47% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $12.72, more than doubling 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 RPT at https://www.zacks.com/ap/RPT

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