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Columbia: 2Q Earnings Snapshot

July 25, 2019

ATLANTA (AP) _ Columbia Property Trust Inc. (CXP) on Thursday reported a key measure of profitability in its second quarter.

The Atlanta-based real estate investment trust said it had funds from operations of $44.8 million, or 38 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 $47.7 million, or 41 cents per share.

The real estate investment trust posted revenue of $72.7 million in the period.

Columbia expects full-year funds from operations in the range of $1.42 to $1.46 per share.

The company’s shares have risen almost 9% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $21.05, a decrease of slightly more than 7% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CXP at https://www.zacks.com/ap/CXP

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