Kilroy Realty: Q1 Earnings Snapshot

Associated Press Finance
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LOS ANGELES (AP) — LOS ANGELES (AP) — Kilroy Realty Corp. (KRC) on Wednesday reported a key measure of profitability in its first quarter. The results surpassed Wall Street expectations.

The real estate investment trust, based in Los Angeles, said it had funds from operations of $146 million, or $1.22 per share, in the period.

The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of $1.17 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 $56.6 million, or 48 cents per share.

The real estate investment trust, based in Los Angeles, posted revenue of $292.8 million in the period.

Kilroy Realty expects full-year funds from operations to be $4.30 to $4.50 per share.

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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

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