NEW YORK (AP) _ Outfront Media Inc. (OUT) on Monday reported a key measure of profitability in its third quarter. The results matched Wall Street expectations.
The real estate investment trust, based in New York, said it had funds from operations of $78.2 million, or 56 cents per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 56 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 $50.7 million, or 36 cents per share.
The billboard, transit and digital display advertising company, based in New York, posted revenue of $392.4 million in the period, surpassing Street forecasts. Three analysts surveyed by Zacks expected $391.1 million.
The company's shares have fallen slightly more than 3 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $24.04, an increase of 14 percent in the last 12 months.