Hubbard Radio Washington DC, LLC. All rights reserved. This website is not intended for users located within the European Economic Area.
BETHESDA, Md. (AP) _ Saul Centers Inc. (BFS) on Thursday reported a key measure of profitability in its second quarter. The results surpassed Wall Street expectations.
The real estate investment trust, based in Bethesda, Maryland, said it had funds from operations of $26 million, or 79 cents per share, in the period.
The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 74 cents 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.
Insight by Carahsoft: Learn about the efforts today and what’s on the horizon by civilian and the military services in rolling out 5G infrastructure and devices to improve mission effectiveness
The company said it had net income of $9.9 million, or 42 cents per share.
The real estate investment trust involved mostly in shopping malls posted revenue of $60 million in the period.
The company’s shares have risen 44% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $45.74, an increase of 48% 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 BFS at https://www.zacks.com/ap/BFS
© 2021 . All rights reserved. This website is not intended for users located within the European Economic Area.