Seritage Growth Properties: Q4 Earnings Snapshot

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NEW YORK (AP) _ Seritage Growth Properties (SRG) on Wednesday reported a loss in a key measure in its fourth quarter.

The New York-based real estate investment trust said it had a funds from operations loss of $17.9 million, or 32 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 $35.6 million, or 92 cents per share.

The real estate investment trust posted revenue of $27.7 million in the period.

For the year, the company said funds from operations losses widened to $88.6 million, or $1.59 per share. Revenue was reported as $116.5 million.

The company's shares have risen 58% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $23.22, a fall of 19% in the last 12 months.


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