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Franklin Street: Q1 Earnings Snapshot

WAKEFIELD, Mass. (AP) — WAKEFIELD, Mass. (AP) — 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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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FSP at https://www.zacks.com/ap/FSP

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