JERICHO, N.Y. (AP) _ Kimco Realty Corp. (KIM) on Thursday reported a key measure of profitability in its fourth quarter. The results beat Wall Street expectations.

The Jericho, New York-based real estate investment trust said it had funds from operations of $133 million, or 31 cents per share, in the period.

The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of 30 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 $194.9 million, or 45 cents per share.

The real estate investment trust posted revenue of $269.4 million in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $267.8 million.

For the year, the company reported funds from operations of $503.7 million, or $1.17 per share. Revenue was reported as $1.06 billion.

Kimco Realty expects full-year funds from operations in the range of $1.18 to $1.24 per share.

The company's shares have climbed 17% since the beginning of the year, while the Standard & Poor's 500 index has risen 4%. The stock has dropped 11% 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 KIM at https://www.zacks.com/ap/KIM

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