Weingarten Realty: 1Q Earnings Snapshot

HOUSTON (AP) _ Weingarten Realty Investors (WRI) on Thursday reported a key measure of profitability in its first quarter. The results did not meet Wall Street expectations.

The Houston-based real estate investment trust said it had funds from operations of $56.9 million, or 44 cents per share, in the period.

The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 51 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 $52.6 million, or 41 cents per share.

The real estate investment trust posted revenue of $111.4 million in the period. Its adjusted revenue was $108.1 million, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $116.4 million.

The company's shares have decreased 47% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $16.66, a fall of 42% 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 WRI at https://www.zacks.com/ap/WRI