Piedmont Office: Q4 Earnings Snapshot

Associated Press Finance
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ATLANTA (AP) — ATLANTA (AP) — Piedmont Office Realty Trust Inc. (PDM) on Wednesday reported a key measure of profitability in its fourth quarter.

The Atlanta-based real estate investment trust said it had funds from operations of $50.6 million, or 41 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 a loss of $28 million, or 23 cents per share.

The commercial real estate investment trust, based in Atlanta, posted revenue of $145.3 million in the period.

For the year, the company reported funds from operations of $215.2 million. Revenue was reported as $577.8 million.

Piedmont Office expects full-year funds from operations in the range of $1.46 to $1.56 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 PDM at https://www.zacks.com/ap/PDM

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