Spirit Realty: 1Q Earnings Snapshot

DALLAS (AP) _ Spirit Realty Capital Inc. (SRC) on Tuesday reported a key measure of profitability in its first quarter. The results met Wall Street expectations.

The Dallas-based real estate investment trust said it had funds from operations of $80.5 million, or 78 cents per share, in the period.

The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 78 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 a loss of $18.4 million, or 18 cents per share.

The real estate investment trust posted revenue of $122.7 million in the period. Its adjusted revenue was $121.4 million, which did not meet Street forecasts. Seven analysts surveyed by Zacks expected $122.4 million.

The company's shares have declined 44% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $27.32, a decrease of 35% 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 SRC at https://www.zacks.com/ap/SRC