LOS ANGELES (AP) — LOS ANGELES (AP) — Kilroy Realty Corp. (KRC) on Thursday reported a key measure of profitability in its first quarter. The results surpassed Wall Street expectations.
The real estate investment trust, based in Los Angeles, said it had funds from operations of $133.7 million, or $1.11 per share, in the period.
The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of $1.06 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 $49.9 million, or 42 cents per share.
The real estate investment trust, based in Los Angeles, posted revenue of $278.6 million in the period.
Kilroy Realty expects full-year funds from operations to be $4.15 to $4.30 per share.
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