BELLEVUE, Wash. (AP) _ Terreno Realty Corp. (TRNO) on Wednesday reported a key measure of profitability in its second quarter.
The Bellevue, Washington-based real estate investment trust said it had funds from operations of $36.1 million, or 48 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 $96.7 million, or $1.28 per share.
The industrial real estate company, based in Bellevue, Washington, posted revenue of $65.4 million in the period, which topped Street forecasts. Three analysts surveyed by Zacks expected $64.1 million.
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