BOSTON (AP) — BOSTON (AP) — Stag Industrial Inc. (STAG) on Wednesday reported a key measure of profitability in its fourth quarter. The results beat Wall Street expectations.
The real estate investment trust, based in Boston, said it had funds from operations of $113.5 million, or 61 cents per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 60 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 $50.9 million, or 28 cents per share.
The industrial real estate investment trust, based in Boston, posted revenue of $199.3 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $192.7 million.
For the year, the company reported funds from operations of $446.5 million. Revenue was reported as $767.4 million.
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