LOS ANGELES (AP) — LOS ANGELES (AP) — Kilroy Realty Corp. (KRC) on Monday reported a key measure of profitability in its second quarter. The results beat Wall Street expectations.
The Los Angeles-based real estate investment trust said it had funds from operations of $109.3 million, or 92 cents per share, in the period.
The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 90 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 $19.9 million, or 17 cents per share.
The real estate investment trust, based in Los Angeles, posted revenue of $272.4 million in the period.
Kilroy Realty expects full-year funds from operations to be $3.49 to $3.63 per share.
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