GREENWOOD VILLAGE, Colo. (AP) — GREENWOOD VILLAGE, Colo. (AP) — National Storage Affiliates (NSA) on Tuesday reported a key measure of profitability in its first quarter. The results surpassed Wall Street expectations.
The Greenwood Village, Colorado-based real estate investment trust said it had funds from operations of $76.8 million, or 57 cents per share, in the period.
The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 54 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 net income of $12.6 million, or 16 cents per share.
The real estate investment trust, based in Greenwood Village, Colorado, posted revenue of $185.4 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 NSA at https://www.zacks.com/ap/NSA