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ATLANTA (AP) — ATLANTA (AP) — Piedmont Office Realty Trust Inc. (PDM) on Wednesday reported a key measure of profitability in its fourth quarter.
The real estate investment trust, based in Atlanta, said it had funds from operations of $61.2 million, or 50 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 $75.6 million, or 61 cents per share.
The commercial real estate investment trust, based in Atlanta, posted revenue of $147.2 million in the period.
For the year, the company reported funds from operations of $247.1 million. Revenue was reported as $563.8 million.
Piedmont Office expects full-year funds from operations in the range of $1.80 to $1.90 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 PDM">Zacks stock report on PDM at https://www.zacks.com/ap/PDM