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

The real estate investment trust, based in Indianapolis, said it had funds from operations of $113 million, or 51 cents per share, in the period.

The average estimate of six 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 $2.1 million, or 1 cent per share.

The real estate investment trust, based in Indianapolis, posted revenue of $207.2 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $202 million.

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