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NORTH BETHESDA, Md. (AP) — NORTH BETHESDA, Md. (AP) — Federal Real Estate Investment Trust (FRT) on Monday reported key fourth-quarter profitability metrics. The results were in line with Wall Street expectations.
The North Bethesda, Maryland-based real estate investment trust said it had funds from operations of $134.9 million, or $1.64 per share, in the period.
The average estimate of nine analysts surveyed by Zacks Investment Research was for funds under management to be $1.64 per share.
Funds under management is a closely watched metric in the REIT industry. Calculate net income and add items such as depreciation and amortization.
The company reported net income of $62.1 million, or 76 cents per share.
The North Bethesda, Maryland-based real estate investment trust posted revenue of $291.8 million in the period, missing street estimates. Eight analysts surveyed by Zacks expected $293.3 million.
The company’s operating funds for the year were reported to be $537.3 million. Revenue was reported at $1.13 billion.
Federal Realty Investment Trust expects full-year funds from management to be in the range of $6.65 to $6.87 per share.
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This story was created by automated insights (http://automatedinsights.com/ap) Using data from Zacks Investment Research.access FRT Zacks Stock Report At https://www.zacks.com/ap/FRT
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