JERICHO, N.Y. (AP) _ Getty Realty Corp. (GTY) on Wednesday reported a key measure of profitability in its fourth quarter.
The Jericho, New York-based real estate investment trust said it had funds from operations of $18 million, or 43 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 $13.7 million, or 33 cents per share.
The real estate investment trust posted revenue of $35.9 million in the period. Its adjusted revenue was $35.2 million.
For the year, the company reported funds from operations of $71.8 million, or $1.72 per share. Revenue was reported as $137.7 million.
Getty Realty expects full-year funds from operations in the range of $1.75 to $1.80 per share.
The company's shares have declined 3% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $31.81, a decline of 5.5% in the last 12 months.