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SL Green: 4Q Earnings Snapshot

NEW YORK (AP) _ SL Green Realty Corp. (SLG) on Wednesday reported a key measure of profitability in its fourth quarter. The results fell short of Wall Street expectations.

The real estate investment trust, based in New York, said it had funds from operations of $142.7 million, or $1.61 per share, in the period.

The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of $1.72 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 $61.2 million, or 73 cents per share.

The commercial real estate investment trust posted revenue of $317 million in the period. Its adjusted revenue was $216.5 million, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $222.1 million.

For the year, the company reported funds from operations of $605.7 million, or $6.62 per share. Revenue was reported as $865 million.

The company's shares have risen 11 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $88.03, a decline of slightly more than 9 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 SLG at https://www.zacks.com/ap/SLG