NEW YORK (AP) _ Outfront Media Inc. (OUT) on Wednesday reported a key measure of profitability in its first quarter.

The real estate investment trust, based in New York, said it had funds from operations of $38.1 million, or 27 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 net income of $9.1 million, or 6 cents per share.

The billboard, transit and digital display advertising company, based in New York, posted revenue of $337.9 million in the period.

The company's shares have fallen 18 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $19.10, a decrease of 27 percent in the last 12 months.

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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on OUT at https://www.zacks.com/ap/OUT