Brixmor: 1Q Earnings Snapshot

NEW YORK (AP) _ Brixmor Property Group Inc. (BRX) on Thursday reported a key measure of profitability in its first quarter. The results fell short of Wall Street expectations.

The real estate investment trust, based in New York, said it had funds from operations of $137.5 million, or 46 cents per share, in the period.

The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of 48 cents per share.

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 $59.8 million, or 20 cents per share.

The owner and operator of shopping centers posted revenue of $282.3 million in the period, which also missed Street forecasts. Five analysts surveyed by Zacks expected $292 million.

The company's shares have decreased 50% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $10.80, a decrease of 39% 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 BRX at https://www.zacks.com/ap/BRX