CHATTANOOGA, Tenn. (AP) 鈥� CHATTANOOGA, Tenn. (AP) 鈥� CBL & Associates Properties Inc. (CBLAQ) on Thursday reported a key measure of profitability in its second quarter.
The Chattanooga, Tennessee-based real estate investment trust said it had funds from operations of $58.3 million, or $1.89 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 $45.4 million, or $1.47 per share.
The owner and operator of retail properties, based in Chattanooga, Tennessee, posted revenue of $146.5 million in the period.
CBL expects full-year funds from operations in the range of $7.15 to $7.25 per share.
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