First Industrial Realty Trust: Q4 Earnings Snapshot

CHICAGO (AP) — CHICAGO (AP) — First Industrial Realty Trust Inc. (FR) on Wednesday reported a key measure of profitability in its fourth quarter. The results topped Wall Street expectations.

The Chicago-based real estate investment trust said it had funds from operations of $84.6 million, or 63 cents per share, in the period.

The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of 62 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 $89.2 million, or 67 cents per share.

The real estate investment trust, based in Chicago, posted revenue of $157.3 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $156.1 million.

For the year, the company reported funds from operations of $330.4 million. Revenue was reported as $614 million.

First Industrial Realty Trust expects full-year funds from operations in the range of $2.54 to $2.64 per share.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FR at https://www.zacks.com/ap/FR