NORTH BETHESDA, Md. (AP) — NORTH BETHESDA, Md. (AP) — Federal Realty Investment Trust (FRT) on Friday reported a key measure of profitability in its third quarter. The results exceeded Wall Street expectations.

The real estate investment trust, based in North Bethesda, Maryland, said it had funds from operations of $163 million, or $1.87 per share, in the period.

The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of $1.85 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 $64.2 million, or 74 cents per share.

The real estate investment trust, based in North Bethesda, Maryland, posted revenue of $339 million in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $337.4 million.

Federal Realty Investment Trust expects full-year funds from operations in the range of $7.54 to $7.58 per share.

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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 FRT at https://www.zacks.com/ap/FRT