LOS ANGELES (AP) — LOS ANGELES (AP) — Rexford Industrial Realty Inc. (REXR) on Tuesday reported a key measure of profitability in its fourth quarter. The results matched Wall Street expectations.

The Los Angeles-based real estate investment trust said it had funds from operations of $126.6 million, or 56 cents per share, in the period.

The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 56 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 $61.7 million, or 29 cents per share.

The industrial real estate investment trust, based in Los Angeles, posted revenue of $210.4 million in the period, beating Street forecasts. Three analysts surveyed by Zacks expected $208.8 million.

For the year, the company reported funds from operations of $444.5 million. Revenue was reported as $797.8 million.

Rexford Industrial expects full-year funds from operations in the range of $2.27 to $2.30 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 REXR at https://www.zacks.com/ap/REXR

For copyright information, check with the distributor of this item, STATS Perform dba Automated Insights. , source Associated Press News