VIRGINIA BEACH, Va. (AP) 鈥� VIRGINIA BEACH, Va. (AP) 鈥� Wheeler Real Estate Investment Trust Inc. (WHLR) on Friday reported a key measure of profitability in its first quarter.
The Virginia Beach, Virginia-based real estate investment trust said it had funds from operations of $2.2 million, or $5.97 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 a loss of $5.3 million, or $14.55 per share.
The real estate investment trust, based in Virginia Beach, Virginia, posted revenue of $24 million in the period.
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