BETHESDA, Md. (AP) — BETHESDA, Md. (AP) — JBG Smith Properties (JBGS) on Friday reported a key measure of profitability in its third quarter.

The Bethesda, Maryland-based real estate investment trust said it had funds from operations of $12.7 million, or 22 cents per share, in the period.

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 $82 million, or $1.41 per share.

The real estate investment trust, based in Bethesda, Maryland, posted revenue of $132.4 million in the period. Its adjusted revenue was $108.1 million.

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