WYOMISSING, Pa. (AP) _ Gaming and Leisure Properties Inc. (GLPI) on Thursday reported a key measure of profitability in its fourth quarter. The results fell short of Wall Street expectations.
The real estate investment trust, based in Wyomissing, Pennsylvania, said it had funds from operations of $165.3 million, or 76 cents per share, in the period.
The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 78 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 $93.3 million, or 43 cents per share.
The real estate investment trust posted revenue of $240.7 million in the period, which also did not meet Street forecasts. Five analysts surveyed by Zacks expected $243.5 million.
For the year, the company reported funds from operations of $669.5 million, or $3.15 per share. Revenue was reported as $971.3 million.
The company’s shares have dropped 5 percent since the beginning of the year. The stock has increased 11 percent in the last 12 months.
