GLENDALE, Calif. (AP) _ PS Business Parks Inc. (PSB) on Tuesday reported a key measure of profitability in its fourth quarter.

The real estate investment trust, based in Glendale, California, said it had funds from operations of $57.7 million, or $1.65 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 $27.5 million, or $1 per share.

The office and industrial space real estate investment trust posted revenue of $106.2 million in the period.

For the year, the company reported funds from operations of $237.1 million, or $6.78 per share. Revenue was reported as $429.8 million.

The company's shares have climbed 3% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $169.96, an increase of 15% in the last 12 months.

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

Automated Insights, source Associated Press News