ROCKVILLE, Md. (AP) _ Federal Realty Investment Trust (FRT) on Monday reported a key measure of profitability in its fourth quarter. The results beat Wall Street expectations.
The Rockville, Maryland-based real estate investment trust said it had funds from operations of $104.9 million, or $1.45 per share, in the period.
The average estimate of 11 analysts surveyed by Zacks Investment Research was for funds from operations of $1.44 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 $57.9 million, or 80 cents per share.
The real estate investment trust posted revenue of $204.1 million in the period, falling short of Street forecasts. Nine analysts surveyed by Zacks expected $204.8 million.
For the year, the company reported funds from operations of $406.4 million, or $5.65 per share. Revenue was reported as $801.6 million.
Federal Realty Investment Trust expects full-year funds from operations to be $5.83 to $5.93 per share.
The company's shares have climbed roughly 1 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $142.95, a fall of slightly more than 1 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 FRT at https://www.zacks.com/ap/FRT
Keywords: Federal Realty Investment Trust, Earnings Report