WASHINGTON (AP) — WASHINGTON (AP) — Easterly Government Properties Inc. (DEA) on Tuesday reported a key measure of profitability in its fourth quarter.
The Washington-based real estate investment trust said it had funds from operations of $32.6 million, or 29 cents per share, in the period.
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 $5.5 million, or 5 cents per share.
The property management company, based in Washington, posted revenue of $78.3 million in the period.
For the year, the company reported funds from operations of $126.9 million. Revenue was reported as $302.1 million.
Easterly Government Properties expects full-year funds from operations in the range of $1.18 to $1.21 per share.
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