Latest News by Industry
NEWYORK, N.Y. (AP) _ SL Green Realty Corp. (SLG) on Wednesday reported a key measure of profitability in its fourth quarter. The results fell short of Wall Street expectations.
The Newyork, New York-based real estate investment trust said it had funds from operations of $100 million, or $1.46 per share, in the period.
The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of $1.48 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 a loss of $64.3 million, or $1.01 per share.
The commercial real estate investment trust, based in Newyork, New York, posted revenue of $224.9 million in the period, which topped Street forecasts. Three analysts surveyed by Zacks expected $173.1 million.
For the year, the company reported funds from operations of $458.8 million. Revenue was reported as $826.7 million.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a SLG">Zacks stock report on SLG at https://www.zacks.com/ap/SLG