Tier Reit: 2Q Earnings Snapshot
DALLAS (AP) _ Tier Reit Inc. (TIER) on Tuesday reported a key measure of profitability in its second quarter.
The Dallas-based real estate investment trust said it had funds from operations of $19.5 million, or 40 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 a loss of $8.3 million, or 17 cents per share.
The real estate investment trust posted revenue of $54 million in the period.
Tier Reit expects full-year funds from operations in the range of $1.52 to $1.56 per share.
The company’s shares have risen 15 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $23.54, a climb of 30 percent in the last 12 months.