Kilroy Realty: 3Q Earnings Snapshot
LOS ANGELES (AP) _ Kilroy Realty Corp. (KRC) on Wednesday reported a key measure of profitability in its third quarter. The results exceeded Wall Street expectations.
The Los Angeles-based real estate investment trust said it had funds from operations of $117.4 million, or 99 cents per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 95 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 $49 million, or 42 cents per share.
The real estate investment trust posted revenue of $228.3 million in the period.
The company's shares have decreased 45% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $46.50, a drop of 43% 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 KRC at https://www.zacks.com/ap/KRC
