INDIANAPOLIS (AP) — INDIANAPOLIS (AP) — Kite Realty Group Trust (KRG) on Tuesday reported a key measure of profitability in its first quarter. The results matched Wall Street expectations.

The real estate investment trust, based in Indianapolis, said it had funds from operations of $111 million, or 50 cents per share, in the period.

The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 50 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 $14.2 million, or 6 cents per share.

The real estate investment trust, based in Indianapolis, posted revenue of $207.4 million in the period.

Kite Realty Group expects full-year funds from operations in the range of $2.02 to $2.08 per share.

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