NEW YORK (AP) — NEW YORK (AP) — Empire State Realty Trust Inc. (ESRT) on Tuesday 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 $61.7 million, or 23 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 net income of $19.7 million, or 12 cents per share.
The real estate investment trust, based in New York, posted revenue of $199.2 million in the period. Its adjusted revenue was $159.7 million.
For the year, the company reported funds from operations of $234.2 million. Revenue was reported as $626.2 million.
Empire State Realty Trust expects full-year funds from operations in the range of 85 cents to 89 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 Zacks stock report on ESRT at https://www.zacks.com/ap/ESRT