NEW YORK (AP) — NEW YORK (AP) — Empire State Realty Trust Inc. (ESRT) on Wednesday reported a key measure of profitability in its second quarter.
The real estate investment trust, based in New York, said it had funds from operations of $57.1 million, or 21 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 a loss of $25.8 million, or 15 cents per share.
The real estate investment trust, based in New York, posted revenue of $196.9 million in the period. Its adjusted revenue was $165.2 million.
Empire State Realty Trust expects full-year funds from operations in the range of 75 cents to 79 cents per share.
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