Piedmont Office: Q4 Earnings Snapshot

ATLANTA (AP) — ATLANTA (AP) — Piedmont Office Realty Trust Inc. (PDM) on Wednesday reported a key measure of profitability in its fourth quarter.

The real estate investment trust, based in Atlanta, said it had funds from operations of $61.2 million, or 50 cents per share, in the period.

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 $75.6 million, or 61 cents per share.

The commercial real estate investment trust, based in Atlanta, posted revenue of $147.2 million in the period.

For the year, the company reported funds from operations of $247.1 million. Revenue was reported as $563.8 million.

Piedmont Office expects full-year funds from operations in the range of $1.80 to $1.90 per share.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PDM at https://www.zacks.com/ap/PDM