WYOMISSING, Pa. (AP) \u2014 WYOMISSING, Pa. (AP) \u2014 Gaming and Leisure Properties Inc. (GLPI) on Thursday reported a key measure\u2026<\/p>\n
WYOMISSING, Pa. (AP) \u2014 WYOMISSING, Pa. (AP) \u2014 Gaming and Leisure Properties Inc. (GLPI) on Thursday reported a key measure of profitability in its second quarter. The results surpassed Wall Street expectations.<\/p>\n
The Wyomissing, Pennsylvania-based real estate investment trust said it had funds from operations of $304 million, or $1.03 per share, in the period.<\/p>\n
The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of $1.02 per share.<\/p>\n
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.<\/p>\n
The company said it had net income of $228.4 million, or 80 cents per share.<\/p>\n
The real estate investment trust, based in Wyomissing, Pennsylvania, posted revenue of $430.5 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $427.7 million.<\/p>\n
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This story was generated by Automated Insights<\/a> (http:\/\/automatedinsights.com\/ap) using data from Zacks Investment Research. Access a Zacks stock report on GLPI<\/a> at https:\/\/www.zacks.com\/ap\/GLPI<\/p>\n Copyright
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