Kilroy Realty: 3Q Earnings Snapshot
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LOS ANGELES (AP) _ Kilroy Realty Corp. (KRC) on Wednesday reported a key measure of profitability in its third quarter. The results topped Wall Street expectations.
The real estate investment trust, based in Los Angeles, said it had funds from operations of $94.2 million, or 90 cents per share, in the period.
The average estimate of eight analysts surveyed by Zacks Investment Research was for funds from operations of 88 cents per share.
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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 $34.4 million, or 33 cents per share.
The real estate investment trust posted revenue of $186.6 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $183.3 million.
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Kilroy Realty expects full-year funds from operations to be $3.54 to $3.61 per share.
The company's shares have dropped slightly more than 5 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $70.65, a fall of 1 percent in the last 12 months.
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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on KRC at https://www.zacks.com/ap/KRC