LOS ANGELES (AP) — LOS ANGELES (AP) — Hudson Pacific Properties Inc. (HPP) on Monday reported a key measure of profitability in its fourth quarter. The results missed Wall Street expectations.
The real estate investment trust, based in Los Angeles, said it had funds from operations of $19.6 million, or 14 cents per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 15 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 $98 million, or 70 cents per share.
The real estate investment trust, based in Los Angeles, posted revenue of $223.4 million in the period, which also fell short of Street forecasts. Four analysts surveyed by Zacks expected $225.6 million.
For the year, the company reported funds from operations of $129.8 million. Revenue was reported as $952.3 million.
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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 HPP at https://www.zacks.com/ap/HPP