Summary :
The Minot, North Dakota-based real estate investment trust said it had funds from operations of $21.2 million, or $1.12 per share, in the period. The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of $1.10 per share. The company said it had a loss of $4.6 million, or 30 cents per share. Centerspace expects full-year funds from operations in the range of $4.45 to $4.61 per share.
MINOT, N.D. (AP) _ Centerspace (CSR) on Monday reported a key measure of profitability in its second quarter. The results beat Wall Street expectations.The Minot, North Dakota-based real estate investment trust said it had funds from operations of $21.2 million, or $1.12 per share, in the period.The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of $1.10 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 $4.6 million, or 30 cents per share. The real estate investment trust posted revenue of $63.1 million in the period. Centerspace expects full-year funds from operations in the range of $4.45 to $4.61 per share. Check levels down to the neighborhood Ratings for the Bay Area and California, updated every 10 minutes This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CSR at https://www.zacks.com/ap/CSR
