RETAIL PROPERTIES OF

RPAI
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Retail Properties of America: 4Q Earnings Snapshot

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02/18/2020 | 05:52 pm

OAK BROOK, Ill. (AP) _ Retail Properties of America Inc. (RPAI) on Tuesday reported a key measure of profitability in its fourth quarter. The results matched Wall Street expectations.

The Oak Brook, Illinois-based real estate investment trust said it had funds from operations of $58.5 million, or 27 cents per share, in the period.

The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 27 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 $16.2 million, or 8 cents per share.

The real estate investment trust posted revenue of $120.8 million in the period, exceeding Street forecasts. Five analysts surveyed by Zacks expected $120.4 million.

For the year, the company reported funds from operations of $229.7 million, or $1.08 per share. Revenue was reported as $481.7 million.

Retail Properties of America expects full-year funds from operations in the range of $1.04 to $1.08 per share.

The company's shares have fallen almost 6% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $12.62, a drop of 1% 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 RPAI at https://www.zacks.com/ap/RPAI

Automated Insights, source Associated Press News

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