JERSEY CITY, N.J. (AP) — JERSEY CITY, N.J. (AP) — Veris Residential, Inc. (VRE) on Wednesday reported a key measure of profitability in its second quarter.

The real estate investment trust, based in Jersey City, New Jersey, said it had funds from operations of $15.8 million, or 16 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 $27.4 million, or 30 cents per share.

The real estate investment trust, based in Jersey City, New Jersey, posted revenue of $68.7 million in the period.

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