Pennsylvania Real Estate: Q4 Earnings Snapshot

PHILADELPHIA (AP) _ Pennsylvania Real Estate Investment Trust (PEI) on Monday reported a key measure of profitability in its fourth quarter.

The Philadelphia-based real estate investment trust said it had funds from operations of $13.2 million, or 17 cents 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 a loss of $34.5 million, or 43 cents per share.

The shopping mall real estate investment trust, based in Philadelphia, posted revenue of $85.2 million in the period.

For the year, the company reported funds from operations of $3 million. Revenue was reported as $296.4 million.

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