NEWYORK, N.Y. (AP) — NEWYORK, N.Y. (AP) — SL Green Realty Corp. (SLG) on Wednesday reported a key measure of profitability in its second quarter. The results topped Wall Street expectations.
The real estate investment trust, based in Newyork, New York, said it had funds from operations of $98.4 million, or $1.43 per share, in the period.
The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of $1.33 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 a loss of $360.2 million, or $5.63 per share.
The commercial real estate investment trust, based in Newyork, New York, posted revenue of $221.1 million in the period. Its adjusted revenue was $165.7 million, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $165.9 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a SLG">Zacks stock report on SLG at https://www.zacks.com/ap/SLG