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PS Business Parks: 4Q Earnings Snapshot

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GLENDALE, Calif. (AP) _ PS Business Parks Inc. (PSB) on Monday reported a key measure of profitability in its fourth quarter.

The Glendale, California-based real estate investment trust said it had funds from operations of $57.9 million, or $1.66 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 $26.9 million, or 98 cents per share.

The office and industrial space real estate investment trust posted revenue of $105.1 million in the period.

For the year, the company reported funds from operations of $229.5 million, or $6.57 per share. Revenue was reported as $415.6 million.

The company's shares have increased 8.5% since the beginning of the year. In the final minutes of trading on Monday, shares hit $144.12, a fall of 14% 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 PSB at https://www.zacks.com/ap/PSB