NEW YORK (AP) _ Global Net Lease Inc. (GNL) on Thursday reported a key measure of profitability in its third quarter.
The real estate investment trust, based in New York, said it had funds from operations of $40.9 million, or 46 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 $502,000, or 1 cent per share.
The real estate investment trust posted revenue of $82.7 million in the period.
The company's shares have declined 28% since the beginning of the year. The stock has dropped 25% in the last 12 months.