SANTA MONICA, Calif. (AP) — SANTA MONICA, Calif. (AP) — Douglas Emmett Inc. (DEI) on Thursday reported a key measure of profitability in its second quarter. The results exceeded Wall Street expectations.

The Santa Monica, California-based real estate investment trust said it had funds from operations of $92.1 million, or 46 cents per share, in the period.

The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of 43 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 $10.9 million, or 6 cents per share.

The real estate investment trust, based in Santa Monica, California, posted revenue of $245.8 million in the period, falling short of Street forecasts. Five analysts surveyed by Zacks expected $246.4 million.

Douglas Emmett expects full-year funds from operations to be $1.65 to $1.69 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 DEI at https://www.zacks.com/ap/DEI