GREENWOOD VILLAGE, Colo. (AP) — GREENWOOD VILLAGE, Colo. (AP) — National Storage Affiliates (NSA) on Wednesday reported a key measure of profitability in its fourth quarter. The results exceeded Wall Street expectations.
The real estate investment trust, based in Greenwood Village, Colorado, said it had funds from operations of $83.6 million, or 68 cents per share, in the period.
The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of 66 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 $63.9 million, or 72 cents per share.
The real estate investment trust, based in Greenwood Village, Colorado, posted revenue of $215.4 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $212.4 million.
For the year, the company reported funds from operations of $343.4 million. Revenue was reported as $858.1 million.
National Storage expects full-year funds from operations in the range of $2.40 to $2.56 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 Zacks stock report on NSA at https://www.zacks.com/ap/NSA