NEW YORK (AP) _ W.P. Carey Inc. (WPC) on Friday 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 $228.7 million, or $1.27 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 $120.2 million, or 67 cents per share.

The real estate investment trust posted revenue of $319.7 million in the period.

W.P. Carey expects full-year funds from operations in the range of $4.94 to $5.02 per share.

The company's shares have increased 14% since the beginning of the year. The stock has climbed 14% 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 WPC at https://www.zacks.com/ap/WPC

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