NOVI, Mich. (AP) — NOVI, Mich. (AP) — Lineage (LINE) on Wednesday reported a key measure of profitability in its fourth quarter. The results exceeded Wall Street expectations.
The real estate investment trust, based in Novi, Michigan, said it had funds from operations of $213 million, or 83 cents per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 71 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 $71 million, or 33 cents per share.
The cold-storage real estate investment trust, based in Novi, Michigan, posted revenue of $1.34 billion in the period, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $1.36 billion.
For the year, the company reported funds from operations of $705 million. Revenue was reported as $5.34 billion.
Lineage expects full-year funds from operations in the range of $3.40 to $3.60 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 LINE at https://www.zacks.com/ap/LINE
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