NEW YORK (AP) _ W.P. Carey Inc. (WPC) on Friday reported a key measure of profitability in its second quarter.
The real estate investment trust, based in New York, said it had funds from operations of $228.7 million, or $1.27 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 $120.2 million, or 67 cents per share.
The real estate investment trust posted revenue of $319.7 million in the period.
W.P. Carey expects full-year funds from operations in the range of $4.94 to $5.02 per share.
The company's shares have increased 14% since the beginning of the year. The stock has climbed 14% in the last 12 months.
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