NEW YORK (AP) _ SL Green Realty Corp. (SLG) on Wednesday reported a key measure of profitability in its second quarter. The results fell short of Wall Street expectations.
The real estate investment trust, based in New York, said it had funds from operations of $117.7 million, or $1.60 per share, in the period.
The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of $1.62 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 $105.3 million, or $1.51 per share.
The commercial real estate investment trust posted revenue of $218.1 million in the period. Its adjusted revenue was $163.9 million.
The company's shares have increased 27% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $78.11, a climb of 58% 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 SLG at https://www.zacks.com/ap/SLG
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