NEW YORK (AP) _ Global Net Lease Inc. (GNL) on Monday reported a key measure of profitability in its third quarter.
The real estate investment trust, based in New York, said it had funds from operations of $32.5 million, or 48 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 $2.1 million, or 3 cents per share.
The real estate investment trust posted revenue of $64.9 million in the period.
The company's shares have declined roughly 7 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $21.95, an increase of 4 percent in the last 12 months.