Store Capital: 1Q Earnings Snapshot

SCOTTSDALE, Ariz. (AP) _ Store Capital Corp. (STOR) on Tuesday reported a key measure of profitability in its first quarter. The results exceeded Wall Street expectations.

The Scottsdale, Arizona-based real estate investment trust said it had funds from operations of $122.1 million, or 50 cents per share, in the period.

The average estimate of eight analysts surveyed by Zacks Investment Research was for funds from operations of 49 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 $62.7 million, or 26 cents per share.

The retail real estate investment trust posted revenue of $177.9 million in the period. Its adjusted revenue was $163.4 million, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $166.7 million.

The company's shares have declined 51% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $18.26, a drop of 45% 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 STOR at https://www.zacks.com/ap/STOR