HAMILTON, Bermuda (AP) — HAMILTON, Bermuda (AP) — Brookfield Infrastructure Partners LP (BIP) on Thursday reported a key measure of profitability in its fourth quarter.
The Hamilton, Bermuda-based real estate investment trust said it had funds from operations of $689 million, or 87 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 $457 million, or 45 cents per share.
The operator of utility, transportation and energy assets, based in Hamilton, Bermuda, posted revenue of $6.3 billion in the period.
For the year, the company reported funds from operations of $2.63 billion. Revenue was reported as $23.1 billion.
The company’s shares have climbed nearly 2% since the beginning of the year. The stock has risen slightly more than 8% 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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