CLEVELAND (AP) _ Forest City Enterprises Inc. (FCE.A) on Thursday reported a key measure of profitability in its third quarter.
The Cleveland-based real estate investment trust said it had funds from operations of $110.1 million, or 41 cents 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 $5.5 million, or 2 cents per share.
The developer of shopping malls, office buildings and apartment complexes, based in Cleveland, posted revenue of $233.5 million in the period.
Forest City expects full-year funds from operations in the range of $1.50 to $1.55 per share.
The company's shares have increased 19 percent since the beginning of the year. The stock has climbed 31 percent in the last 12 months.