LOS ANGELES (AP) _ Kilroy Realty Corp. (KRC) on Wednesday reported a key measure of profitability in its first quarter. The results beat Wall Street expectations.

The Los Angeles-based real estate investment trust said it had funds from operations of $137.8 million, or $1.16 per share, in the period.

The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of $1.09 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 $53.1 million, or 45 cents per share.

The real estate investment trust posted revenue of $265.5 million in the period.

Kilroy Realty expects full-year funds from operations to be $4.44 to $4.58 per share.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KRC at https://www.zacks.com/ap/KRC

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