Equity Commonwealth: 2Q Earnings Snapshot
CHICAGO (AP) _ Equity Commonwealth (EQC) on Wednesday 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 $27.2 million, or 22 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 $240.3 million, or $1.93 per share.
The office building real estate investment trust posted revenue of $33.4 million in the period.
The company’s shares have increased 12% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $33.65, an increase of slightly more than 4% in the last 12 months.