Equity Commonwealth: 2Q Earnings Snapshot
CHICAGO (AP) _ Equity Commonwealth (EQC) on Monday reported a key measure of profitability in its second quarter.
The real estate investment trust, based in Chicago, said it had funds from operations of $20.8 million, or 17 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 $35 million, or 29 cents per share.
The office building real estate investment trust posted revenue of $48.6 million in the period.
The company’s shares have risen slightly more than 2 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $31.25, a fall of 1 percent in the last 12 months.