DALLAS — Spirit Realty Capital Inc. (SRC) on Friday reported a key measure of profitability in its second quarter. The results beat Wall Street expectations.
The real estate investment trust, based in Dallas, said it had funds from operations of $73.6 million, or 71 cents per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 58 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 a loss of $3 million, or 3 cents per share.