NEW YORK (AP) _ W.P. Carey Inc. (WPC) on Friday 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 $222 million, or $1.28 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 $129.4 million, or 75 cents per share.

The real estate investment trust posted revenue of $296.4 million in the period.

For the year, the company reported funds from operations of $856.5 million, or $5 per share. Revenue was reported as $1.23 billion.

W.P. Carey expects full-year funds from operations in the range of $4.86 to $5.01 per share.

The company's shares have climbed 6% since the beginning of the year. The stock has increased 14% 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 WPC at https://www.zacks.com/ap/WPC

Automated Insights, source Associated Press News