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INDIANAPOLIS (AP) — INDIANAPOLIS (AP) — Kite Realty Group Trust (KRG) on Tuesday reported a key measure of profitability in its fourth quarter. The results surpassed Wall Street expectations.
The Indianapolis-based real estate investment trust said it had funds from operations of $109.4 million, or 50 cents per share, in the period.
The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 49 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 $8 million, or 4 cents per share.
The real estate investment trust, based in Indianapolis, posted revenue of $200.3 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $206 million.
For the year, the company reported funds from operations of $446.9 million. Revenue was reported as $823 million.
Kite Realty Group expects full-year funds from operations in the range of $2 to $2.06 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 Zacks stock report on KRG at https://www.zacks.com/ap/KRG