SAN DIEGO (AP) — SAN DIEGO (AP) — Retail Opportunity Investments Corp. (ROIC) on Wednesday reported a key measure of profitability in its fourth quarter. The results matched Wall Street expectations.
The San Diego-based real estate investment trust said it had funds from operations of $35.9 million, or 27 cents per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 27 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 $10.2 million, or 8 cents per share.
The real estate investment trust, based in San Diego, posted revenue of $80.2 million in the period.
For the year, the company reported funds from operations of $145.3 million. Revenue was reported as $312.9 million.
Retail Opportunity Investments expects full-year funds from operations to be $1.05 to $1.11 per share.
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