NEW YORK (AP) _ Global Net Lease Inc. (GNL) 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 $39.8 million, or 44 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 $966,000, or 1 cent per share.
The real estate investment trust posted revenue of $81.1 million in the period.
The company’s shares have decreased 18% since the beginning of the year. The stock has declined 13% in the last 12 months.