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NORTH BETHESDA, Md. (AP) _ Federal Realty Investment Trust (FRT) on Thursday reported a key measure of profitability in its third quarter. The results beat Wall Street expectations.
The North Bethesda, Maryland-based real estate investment trust said it had funds from operations of $129.3 million, or $1.59 per share, in the period.
The average estimate of eight analysts surveyed by Zacks Investment Research was for funds from operations of $1.54 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.
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The company said it had net income of $154.1 million, or $1.89 per share.
The real estate investment trust posted revenue of $273.5 million in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $262.5 million.
Federal Realty Investment Trust expects full-year funds from operations to be $6.27 to $6.32 per share.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FRT at https://www.zacks.com/ap/FRT
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