NEW YORK – NEW YORK (AP) _ Outfront Media Inc. (OUT) on Monday reported a key measure of profitability in its third quarter.
The New York-based real estate investment trust said it had funds from operations of $85.2 million, or 60 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 $46.8 million, or 33 cents per share.
The billboard, transit and digital display advertising company, based in New York, posted revenue of $414.2 million in the period, which topped Street forecasts. Three analysts surveyed by Zacks expected $405.1 million.
The company’s shares have fallen 22 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $18.21, a fall of 22 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 OUT at https://www.zacks.com/ap/OUT