LOS ANGELES (AP) — LOS ANGELES (AP) — Kilroy Realty Corp. (KRC) on Monday reported a key measure of profitability in its third quarter. The results exceeded Wall Street expectations.
The Los Angeles-based real estate investment trust said it had funds from operations of $140.4 million, or $1.17 per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of $1.04 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 $52.4 million, or 44 cents per share.
The real estate investment trust, based in Los Angeles, posted revenue of $289.9 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $277.9 million.
Kilroy Realty expects full-year funds from operations to be $4.38 to $4.44 per share.
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