ORLANDO, Fla. (AP) _ National Retail Properties (NNN) on Tuesday reported a key measure of profitability in its fourth quarter. The results met Wall Street expectations.

The Orlando, Florida-based real estate investment trust said it had funds from operations of $120.3 million, or 70 cents per share, in the period.

The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of 70 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 net income of $58.5 million, or 34 cents per share.

The retail real estate investment trust, based in Orlando, Florida, posted revenue of $173.4 million in the period. Its adjusted revenue was $173.2 million, which topped Street forecasts. Seven analysts surveyed by Zacks expected $171.2 million.

For the year, the company reported funds from operations of $455.2 million, or $2.76 per share. Revenue was reported as $669 million.

National Retail Properties expects full-year funds from operations in the range of $2.83 to $2.87 per share.

The company's shares have risen almost 7% since the beginning of the year. The stock has climbed nearly 8% 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 NNN at https://www.zacks.com/ap/NNN

Automated Insights, source Associated Press News