HOUSTON (AP) — HOUSTON (AP) — Camden Property Trust (CPT) on Thursday reported a key measure of profitability in its fourth quarter. The results exceeded Wall Street expectations.

The real estate investment trust, based in Houston, said it had funds from operations of $190.4 million, or $1.73 per share, in the period.

The average estimate of 10 analysts surveyed by Zacks Investment Research was for funds from operations of $1.68 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 net income of $40.7 million, or 37 cents per share.

The real estate investment trust, based in Houston, posted revenue of $386.3 million in the period, which did not meet Street forecasts. Nine analysts surveyed by Zacks expected $387 million.

For the year, the company reported funds from operations of $754 million. Revenue was reported as $1.54 billion.

For the current quarter ending in March, Camden expects its per-share funds from operations to range from $1.66 to $1.70.

The company expects full-year funds from operations in the range of $6.60 to $6.90 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 CPT at https://www.zacks.com/ap/CPT