NEW YORK (AP) _ Empire State Realty Trust Inc. (ESRT) on Wednesday reported a key measure of profitability in its fourth quarter.
The New York-based real estate investment trust said it had funds from operations of $87.3 million, or 29 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 $22.8 million, or 13 cents per share.
The real estate investment trust posted revenue of $199.3 million in the period. Its adjusted revenue was $123.3 million.
For the year, the company reported funds from operations of $290 million. Revenue was reported as $493.2 million.
The company's shares have climbed 9 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $15.53, a decrease of 14 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 ESRT at https://www.zacks.com/ap/ESRT