MILL VALLEY, Calif. (AP) _ Four Corners Property Trust Inc. (FCPT) on Wednesday reported a key measure of profitability in its fourth quarter.

The real estate investment trust, based in Mill Valley, California, said it had funds from operations of $32.3 million, or 41 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 net income of $23.7 million, or 30 cents per share.

The real estate investment trust posted revenue of $52.7 million in the period.

For the year, the company reported funds from operations of $120.1 million, or $1.56 per share. Revenue was reported as $199.4 million.

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