Pennsylvania Real Estate: 4Q Earnings Snapshot

PHILADELPHIA (AP) _ Pennsylvania Real Estate Investment Trust (PEI) on Tuesday reported a key measure of profitability in its fourth quarter. The results fell short of Wall Street expectations.

The Philadelphia-based real estate investment trust said it had funds from operations of $26.7 million, or 34 cents per share, in the period.

The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 40 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 $21.7 million, or 29 cents per share.

The shopping mall real estate investment trust posted revenue of $88.7 million in the period. Its adjusted revenue was $88.3 million.

For the year, the company reported funds from operations of $82.7 million, or $1.05 per share. Revenue was reported as $335 million.

Pennsylvania Real Estate expects full-year funds from operations in the range of $1.04 to $1.28 per share.

The company's shares closed at $3.51. A year ago, they were trading at $6.72.

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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 PEI at https://www.zacks.com/ap/PEI