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MILL VALLEY, Calif. (AP) — MILL VALLEY, Calif. (AP) — Four Corners Property Trust Inc. (FCPT) on Wednesday reported a key measure of profitability in its second quarter. The results met Wall Street expectations.
The Mill Valley, California-based real estate investment trust said it had funds from operations of $39.8 million, or 43 cents per share, in the period.
The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 43 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 $24.7 million, or 27 cents per share.
The real estate investment trust, based in Mill Valley, California, posted revenue of $66.5 million in the period.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FCPT at https://www.zacks.com/ap/FCPT