NEW YORK (AP) — NEW YORK (AP) — Global Net Lease Inc. (GNL) on Tuesday reported a key measure of profitability in its first quarter.

The New York-based real estate investment trust said it had funds from operations of $75 million, or 33 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 $34.7 million, or 15 cents per share.

The real estate investment trust, based in New York, posted revenue of $206 million in the period.

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