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New York REIT reports 4Q results

NEW YORK (AP) _ New York REIT Inc. (NYRT) on Wednesday reported a key measure of profitability in its fourth quarter.

The real estate investment trust, based in New York, said it had funds from operations of $3.4 million, or 2 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 $26.2 million, or 16 cents per share.

The commercial real estate company posted revenue of $42.4 million in the period.

For the year, the company reported funds from operations of $54.5 million. Revenue was reported as $160.3 million.

The company's shares have dropped almost 3 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $9.84, a rise of 1 percent 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 NYRT at https://www.zacks.com/ap/NYRT

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Keywords: New York REIT, Earnings Report