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Seritage Growth Properties reports 4Q results

NEW YORK (AP) _ Seritage Growth Properties (SRG) on Tuesday reported a key measure of profitability in its fourth quarter.

The New York-based real estate investment trust said it had funds from operations of $30 million, or 54 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 $15 million, or 48 cents per share.

The real estate investment trust, based in New York, posted revenue of $66.2 million in the period.

For the year, the company reported funds from operations of $127.3 million. Revenue was reported as $248.7 million.

The company's shares have climbed roughly 9 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $46.48, a rise of 12 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 SRG at https://www.zacks.com/ap/SRG


Keywords: Seritage Growth Properties, Earnings Report