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Gaming and Leisure Properties: 4Q Earnings Snapshot

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WYOMISSING, Pa. (AP) _ Gaming and Leisure Properties Inc. (GLPI) on Thursday reported a key measure of profitability in its fourth quarter. The results matched Wall Street expectations.

The real estate investment trust, based in Wyomissing, Pennsylvania, said it had funds from operations of $193.4 million, or 85 cents per share, in the period.

The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 85 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 $169.3 million, or 74 cents per share.

The real estate investment trust posted revenue of $300.2 million in the period, falling short of Street forecasts. Six analysts surveyed by Zacks expected $302.9 million.

For the year, the company reported funds from operations of $757.4 million, or $3.45 per share. Revenue was nearly unchanged at $1.15 billion.

The company's shares have risen slightly more than 2% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $43.37, a drop of 12% in the last 12 months.

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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 GLPI at https://www.zacks.com/ap/GLPI