RPT Realty: Q3 Earnings Snapshot
News > National News
Audio By Carbonatix
5:04 PM on Thursday, November 2, 2023
The Associated Press
NEW YORK (AP) — NEW YORK (AP) — RPT Realty (RPT) on Thursday reported a key measure of profitability in its third quarter. The results matched Wall Street expectations.
The New York-based real estate investment trust said it had funds from operations of $21.4 million, or 24 cents per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 24 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 $7.9 million, or 9 cents per share.
The shopping center real estate investment trust, based in New York, posted revenue of $54.9 million in the period, topping Street forecasts. Three analysts surveyed by Zacks expected $49.4 million.
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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
