SANTA MONICA, Calif. (AP) — SANTA MONICA, Calif. (AP) — Douglas Emmett Inc. (DEI) on Tuesday reported a key measure of profitability in its fourth quarter. The results did not meet Wall Street expectations.
The Santa Monica, California-based real estate investment trust said it had funds from operations of $105.5 million, or 51 cents per share, in the period.
The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 52 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 $24.3 million, or 14 cents per share.
The real estate investment trust posted revenue of $207.8 million in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $257.7 million.
For the year, the company reported funds from operations of $419.7 million, or $2.03 per share. Revenue was reported as $824.6 million.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DEI at https://www.zacks.com/ap/DEI