RPT Realty: Q1 Earnings Snapshot

NEW YORK (AP) — NEW YORK (AP) — RPT Realty (RPT) on Wednesday reported a key measure of profitability in its first quarter. The results beat Wall Street expectations.

The New York-based real estate investment trust said it had funds from operations of $24.3 million, or 25 cents per share, in the period.

The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 23 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 a loss of $411,000, or 1 cent per share.

The shopping center real estate investment trust, based in New York, posted revenue of $52.2 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $49.4 million.

RPT Realty expects full-year funds from operations in the range of 97 cents to $1.01 per share.

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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 RPT at https://www.zacks.com/ap/RPT