BETHESDA, Md. (AP) _ Saul Centers Inc. (BFS) on Tuesday reported a key measure of profitability in its fourth quarter.
The Bethesda, Maryland-based real estate investment trust said it had funds from operations of $21.2 million, or 73 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 net income of $8.4 million, or 38 cents per share.
The real estate investment trust involved mostly in shopping malls posted revenue of $54.2 million in the period, which topped Street forecasts. Three analysts surveyed by Zacks expected $53.8 million.
For the year, the company reported funds from operations of $87.7 million, or $3.03 per share. Revenue was reported as $217.1 million.
The company's shares have decreased almost 6 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $62.88, a rise of 21 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 BFS at https://www.zacks.com/ap/BFS
Keywords: Saul Centers, Earnings Report