SANTA MONICA, Calif. (AP) — SANTA MONICA, Calif. (AP) — Douglas Emmett Inc. (DEI) on Tuesday reported a key measure of profitability in its fourth quarter. The results exceeded Wall Street expectations.
The Santa Monica, California-based real estate investment trust said it had funds from operations of $77.4 million, or 38 cents per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 37 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 $888,000, or 1 cent per share.
The real estate investment trust, based in Santa Monica, California, posted revenue of $245 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $247.1 million.
For the year, the company reported funds from operations of $345.5 million. Revenue was reported as $986.5 million.
Douglas Emmett expects full-year funds from operations in the range of $1.42 to $1.48 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 DEI at https://www.zacks.com/ap/DEI
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