NEWTON, Mass. (AP) — NEWTON, Mass. (AP) — Service Properties Trust (SVC) on Wednesday reported a key measure of profitability in its fourth quarter.
The Newton, Massachusetts-based real estate investment trust said it had funds from operations of $27.5 million, or 17 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 $782,000, or less than 1 cent on a per-share basis.
The real estate investment trust, based in Newton, Massachusetts, posted revenue of $397.5 million in the period.
For the year, the company reported funds from operations of $129.9 million. Revenue was reported as $1.81 billion.
Service Properties expects full-year funds from operations in the range of 65 cents to 77 cents per share.
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