BETHESDA, Md. (AP) _ First Potomac Realty Trust (FPO) on Thursday reported a key measure of profitability in its fourth quarter. The results surpassed Wall Street expectations.
The Bethesda, Maryland-based real estate investment trust said it had funds from operations of $16 million, or 27 cents per share, in the period.
The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 26 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 a loss of $1.6 million, or 3 cents per share.
The real estate investment trust posted revenue of $39 million in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $39.2 million.
For the year, the company reported funds from operations of $63.9 million, or $1.06 per share. Revenue was reported as $160.3 million.
First Potomac Realty Trust expects full-year funds from operations in the range of 78 cents to 84 cents per share.
The company's shares have decreased 3 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $10.64, an increase of 31 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 FPO at https://www.zacks.com/ap/FPO
Keywords: First Potomac Realty Trust, Earnings Report