NORTH BETHESDA, Md. (AP) — NORTH BETHESDA, Md. (AP) — Federal Realty Investment Trust (FRT) on Monday reported a key measure of profitability in its fourth quarter. The results matched Wall Street expectations.

The North Bethesda, Maryland-based real estate investment trust said it had funds from operations of $134.9 million, or $1.64 per share, in the period.

The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of $1.64 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 $62.1 million, or 76 cents per share.

The real estate investment trust, based in North Bethesda, Maryland, posted revenue of $291.8 million in the period, missing Street forecasts. Eight analysts surveyed by Zacks expected $293.3 million.

For the year, the company reported funds from operations of $537.3 million. Revenue was reported as $1.13 billion.

Federal Realty Investment Trust expects full-year funds from operations in the range of $6.65 to $6.87 per share.


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