HAMILTON, Bermuda (AP) — HAMILTON, Bermuda (AP) — Brookfield Infrastructure Partners LP (BIP) on Thursday reported a key measure of profitability in its fourth quarter. The results exceeded Wall Street expectations.
The Hamilton, Bermuda-based real estate investment trust said it had funds from operations of $646 million, or 82 cents per share, in the period.
The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 79 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 $265 million, or 22 cents per share.
The operator of utility, transportation and energy assets, based in Hamilton, Bermuda, posted revenue of $5.44 billion in the period.
For the year, the company reported funds from operations of $2.47 billion. Revenue was reported as $21.04 billion.
The company’s shares have increased 1% since the beginning of the year. The stock has risen 1% in the last 12 months.
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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 BIP at https://www.zacks.com/ap/BIP
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