WAKEFIELD, Mass. (AP) 鈥� WAKEFIELD, Mass. (AP) 鈥� Franklin Street Properties Corp. (FSP) on Tuesday reported a key measure of profitability in its first quarter.
The Wakefield, Massachusetts-based real estate investment trust said it had funds from operations of $1.2 million, or 1 cent 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 a loss of $9.5 million, or 9 cents per share.
The hybrid real estate investment trust, based in Wakefield, Massachusetts, posted revenue of $26.2 million in the period.
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