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DALLAS (AP) – Tier Reit Inc. (TIER) announced Monday a key measure of profitability in the third quarter. The results have exceeded Wall Street's expectations.
The Dallas-based real estate investment trust reported generating operating funds of $ 20.1 million, or 38 cents per share, during the period.
The average estimate of three analysts surveyed by Zacks Investment Research indicated funds from operations of 37 cents per share.
Funds from operations is a closely monitored measure in the REIT sector. It takes the net income and adds items such as depreciation.
The company said it had a net profit of $ 22.6 million, or 43 cents per share.
The real estate investment trust generated $ 54.8 million in revenue during the period.
Tier Reit provides funds from operations for the fiscal year ranging from $ 1.53 to $ 1.56 per share.
Shares of the company have climbed 7.5% since the beginning of the year. The stock has increased by 12% 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 report on Zacks' actions on TIER at https://www.zacks.com/ap/TIER.
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