LOS ANGELES (AP) — LOS ANGELES (AP) — Hudson Pacific Properties Inc. (HPP) on Wednesday reported a key measure of profitability in its first quarter. The results exceeded Wall Street expectations.
The real estate investment trust, based in Los Angeles, said it had funds from operations of $24.2 million, or 17 cents per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 16 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 a loss of $52.2 million, or 37 cents per share.
The real estate investment trust, based in Los Angeles, posted revenue of $214 million in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $220.6 million.
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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 HPP at https://www.zacks.com/ap/HPP
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