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RPT Realty: 4Q Earnings Snapshot

·1 min read

NEW YORK (AP) _ RPT Realty (RPT) on Wednesday reported a key measure of profitability in its fourth quarter. The results missed Wall Street expectations.

The New York-based real estate investment trust said it had funds from operations of $15.1 million, or 18 cents per share, in the period.

The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 19 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 a loss of $7.4 million, or 9 cents per share.

The shopping center real estate investment trust posted revenue of $47.7 million in the period.

For the year, the company reported funds from operations of $64.2 million. Revenue was reported as $191.7 million.

RPT Realty expects full-year funds from operations in the range of 77 cents to 87 cents per share.

The company's shares have climbed 22% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $10.52, a decline of 28% 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 RPT at https://www.zacks.com/ap/RPT