DALLAS (AP) _ Tier Reit Inc. (TIER) on Monday reported a key measure of profitability in its fourth quarter. The results surpassed Wall Street expectations.

The real estate investment trust, based in Dallas, said it had funds from operations of $23.1 million, or 42 cents per share, in the period.

The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 37 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 $27.8 million, or 52 cents per share.

The real estate investment trust posted revenue of $55.6 million in the period.

Tier Reit expects full-year funds from operations in the range of $1.40 to $1.48 per share.

The company's shares have climbed 20 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $24.82, a climb of 40 percent in the last 12 months.

_____

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