LOS ANGELES (AP) — LOS ANGELES (AP) — Hudson Pacific Properties Inc. (HPP) on Thursday reported a key measure of profitability in its fourth quarter.
The Los Angeles-based real estate investment trust said it had funds from operations of $13.6 million, or 21 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 a loss of $277.9 million, or $4.31 per share.
The real estate investment trust, based in Los Angeles, posted revenue of $256 million in the period.
For the year, the company reported funds from operations of $51.1 million. Revenue was reported as $831.1 million.
Hudson Pacific expects full-year funds from operations to be 96 cents to $1.06 per share.
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