GLENDALE, Calif. (AP) _ PS Business Parks Inc. (PSB) on Tuesday reported a key measure of profitability in its second quarter.
The real estate investment trust, based in Glendale, California, said it had funds from operations of $61.3 million, or $1.75 per share, in the period.
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 $45.6 million, or $1.65 per share.
The office and industrial space real estate investment trust posted revenue of $109.4 million in the period.
The company's shares have climbed 14% since the beginning of the year. The stock has climbed 10% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PSB at https://www.zacks.com/ap/PSB
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