BELLEVUE, Wash. (AP) — BELLEVUE, Wash. (AP) — Terreno Realty Corp. (TRNO) on Wednesday reported a key measure of profitability in its fourth quarter.
The real estate investment trust, based in Bellevue, Washington, said it had funds from operations of $86.5 million, or 83 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 $157.5 million, or $1.53 per share.
The industrial real estate company, based in Bellevue, Washington, posted revenue of $137.5 million in the period.
For the year, the company reported funds from operations of $284.7 million. Revenue was reported as $476.4 million.
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