CHICAGO (AP) — Equity Commonwealth (EQC) on Wednesday reported a key measure of profitability in its fourth quarter.
The real estate investment trust, based in Chicago, said it had funds from operations of $19.7 million, or 16 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 $14 million, or 11 cents per share.
The office building real estate investment trust posted revenue of $26 million in the period.
For the year, the company reported funds from operations of $95.7 million. Revenue was reported as $127.9 million.
The company's shares have increased slightly since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $32.92, an increase of almost 1% in the last 12 months.