LOS ANGELES (AP) — LOS ANGELES (AP) — Kilroy Realty Corp. (KRC) on Monday reported a key measure of profitability in its fourth quarter. The results fell short of Wall Street expectations.
The real estate investment trust, based in Los Angeles, said it had funds from operations of $117.2 million, or 97 cents per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 98 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 $12.4 million, or 10 cents per share.
The real estate investment trust, based in Los Angeles, posted revenue of $272.2 million in the period, which beat Street forecasts. Three analysts surveyed by Zacks expected $270.6 million.
For the year, the company reported funds from operations of $505.9 million. Revenue was reported as $1.11 billion.
Kilroy Realty expects full-year funds from operations in the range of $3.25 to $3.45 per share.
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