CLEVELAND – CLEVELAND (AP) _ Forest City Enterprises Inc. (FCE.A) on Thursday reported a key measure of profitability in its second quarter.
The Cleveland-based real estate investment trust said it had funds from operations of $98.3 million, or 36 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 net income of $68.5 million, or 25 cents per share.
The developer of shopping malls, office buildings and apartment complexes, based in Cleveland, posted revenue of $207.3 million in the period.
The company’s shares have risen roughly 4 percent since the beginning of the year. The stock has increased 3 percent in the last 12 months.
This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on FCE.A at https://www.zacks.com/ap/FCE.A