PHILADELPHIA (AP) — PHILADELPHIA (AP) — Brandywine Realty Trust (BDN) on Tuesday reported a key measure of profitability in its fourth quarter. The results missed Wall Street expectations.
The real estate investment trust, based in Philadelphia, said it had funds from operations of $29.9 million, or 17 cents per share, in the period.
The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 24 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 a loss of $43.3 million, or 25 cents per share.
The real estate investment trust posted revenue of $121.9 million in the period.
For the year, the company reported funds from operations of $148.9 million. Revenue was reported as $505.5 million.
Brandywine Realty Trust expects full-year funds from operations to be 60 cents to 72 cents per share.
The company's shares have dropped slightly more than 4% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $5.36, a rise of 27% in the last 12 months.
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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 BDN at https://www.zacks.com/ap/BDN
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