DALLAS (AP) — DALLAS (AP) — NexPoint Residential Trust Inc. (NXRT) on Tuesday reported a key measure of profitability in its first quarter.

The real estate investment trust, based in Dallas, said it had funds from operations of $22.6 million, or 86 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 $26.3 million, or $1 per share.

The real estate investment trust, based in Dallas, posted revenue of $67.6 million in the period, surpassing Street forecasts. Four analysts surveyed by Zacks expected $67 million.

NexPoint Residential Trust Inc. expects full-year funds from operations in the range of $2.60 to $2.85 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 NXRT at https://www.zacks.com/ap/NXRT