MILL VALLEY, Calif. (AP) 鈥� MILL VALLEY, Calif. (AP) 鈥� Four Corners Property Trust Inc. (FCPT) on Wednesday reported a key measure of profitability in its first quarter.
The real estate investment trust, based in Mill Valley, California, said it had funds from operations of $49.7 million, or 45 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 $30.3 million, or 28 cents per share.
The real estate investment trust, based in Mill Valley, California, posted revenue of $78.2 million in the period.
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