Plymouth Industrial: Q3 Earnings Snapshot
BOSTON (AP) — BOSTON (AP) — Plymouth Industrial REIT, Inc. (PLYM) on Thursday reported a key measure of profitability in its third quarter. The results met Wall Street expectations.
The Boston-based real estate investment trust said it had funds from operations of $20.6 million, or 46 cents per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 46 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 $7.5 million, or 17 cents per share.
Plymouth Industrial, based in Boston, posted revenue of $49.8 million in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $50.6 million.
Plymouth Industrial expects full-year funds from operations in the range of $1.84 to $1.86 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 PLYM at https://www.zacks.com/ap/PLYM