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NEW YORK (AP) — NEW YORK (AP) — Paramount Group Inc. (PGRE) on Wednesday reported a key measure of profitability in its fourth quarter.
The New York-based real estate investment trust said it had funds from operations of $54.4 million, or 25 cents per share, in the period.
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 $37.9 million, or 17 cents per share.
The real estate investment trust that owns office buildings, based in New York, posted revenue of $184 million in the period.
For the year, the company reported funds from operations of $216.8 million. Revenue was reported as $740.4 million.
Paramount Group expects full-year funds from operations in the range of 88 cents to 94 cents per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a PGRE">Zacks stock report on PGRE at https://www.zacks.com/ap/PGRE