Hudson Pacific: Q4 Earnings Snapshot

LOS ANGELES (AP) — LOS ANGELES (AP) — Hudson Pacific Properties Inc. (HPP) on Wednesday reported a key measure of profitability in its fourth quarter. The results fell short of Wall Street expectations.

The Los Angeles-based real estate investment trust said it had funds from operations of $70.2 million, or 49 cents per share, in the period.

The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 50 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 a loss of $12 million, or 9 cents per share.

The real estate investment trust posted revenue of $269.9 million in the period, beating Street forecasts. Three analysts surveyed by Zacks expected $267.8 million.

For the year, the company reported funds from operations of $294.1 million, or $2.02 per share. Revenue was reported as $1.03 billion.

Hudson Pacific expects full-year funds from operations to be $1.77 to $1.87 per share.

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