LOS ANGELES (AP) _ Kilroy Realty Corp. (KRC) on Monday reported a key measure of profitability in its fourth quarter. The results missed Wall Street expectations.
The Los Angeles-based real estate investment trust said it had funds from operations of $81.3 million, or 78 cents per share, in the period.
The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 89 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 $160.2 million, or $1.58 per share.
The real estate investment trust posted revenue of $190.8 million in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $186.3 million.
For the year, the company reported funds from operations of $360.5 million, or $3.48 per share. Revenue was reported as $747.3 million.
Kilroy Realty expects full-year funds from operations to be $3.58 to $3.78 per share.
The company's shares have climbed 12 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $70.57, a rise of slightly more than 2 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 KRC at https://www.zacks.com/ap/KRC