SCOTTSDALE, Ariz. (AP) _ Store Capital Corp. (STOR) on Thursday reported a key measure of profitability in its third quarter. The results beat Wall Street expectations.
The Scottsdale, Arizona-based real estate investment trust said it had funds from operations of $168 million, or 59 cents per share, in the period.
The average estimate of eight analysts surveyed by Zacks Investment Research was for funds from operations of 57 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.
The company said it had net income of $68.6 million, or 24 cents per share.
The retail real estate investment trust, based in Scottsdale, Arizona, posted revenue of $230.6 million in the period. Its adjusted revenue was $216.9 million, which also topped Street forecasts. Three analysts surveyed by Zacks expected $210.9 million.
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