BEACHWOOD, Ohio (AP) _ DDR Corp. (DDR) on Monday reported a key measure of profitability in its fourth quarter. The results did not meet Wall Street expectations.
The Beachwood, Ohio-based real estate investment trust said it had funds from operations of $111.1 million, or 30 cents per share, in the period.
The average estimate of 12 analysts surveyed by Zacks Investment Research was for funds from operations of 31 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 $28.1 million, or 8 cents per share.
The real estate investment trust posted revenue of $232.2 million in the period. Its adjusted revenue was $226.5 million, which also did not meet Street forecasts. Seven analysts surveyed by Zacks expected $240.1 million.
For the year, the company reported funds from operations of $468.4 million, or $1.28 per share. Revenue was reported as $947.2 million.
The company's shares have climbed almost 1 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $15.40, a decline of slightly more than 3 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DDR at https://www.zacks.com/ap/DDR
Keywords: DDR, Earnings Report