NEWYORK, N.Y. (AP) — NEWYORK, N.Y. (AP) — SL Green Realty Corp. (SLG) on Wednesday reported a key measure of profitability in its fourth quarter. The results surpassed Wall Street expectations.
The Newyork, New York-based real estate investment trust said it had funds from operations of $86.2 million, or $1.13 per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of $1.10 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 $104.6 million, or $1.49 per share.
The commercial real estate investment trust, based in Newyork, New York, posted revenue of $276.5 million in the period. Its adjusted revenue was $159.8 million, which also topped Street forecasts. Three analysts surveyed by Zacks expected $147 million.
For the year, the company reported funds from operations of $437.7 million. Revenue was reported as $601.5 million.
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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 SLG at https://www.zacks.com/ap/SLG