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

The Los Angeles-based real estate investment trust said it had funds from operations of $129.3 million, or $1.08 per share, in the period.

The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of $1.03 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 $47.3 million, or 40 cents per share.

The real estate investment trust, based in Los Angeles, posted revenue of $269 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $286.1 million.

For the year, the company reported funds from operations of $551.1 million. Revenue was reported as $1.13 billion.

Kilroy Realty expects full-year funds from operations to be $4.10 to $4.25 per share.


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