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

The real estate investment trust, based in Los Angeles, said it had funds from operations of $104.6 million, or 88 cents per share, in the period.

The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 84 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 $35.8 million, or 30 cents per share.

The real estate investment trust posted revenue of $226 million in the period.

Kilroy Realty expects full-year funds from operations to be $3.71 to $3.82 per share.

The company's shares have increased 21% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $69.38, a rise of 20% 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 KRC at https://www.zacks.com/ap/KRC

Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News