SALT LAKE CITY (AP) — SALT LAKE CITY (AP) — Extra Space Storage Inc. (EXR) on Thursday reported a key measure of profitability in its fourth quarter. The results topped Wall Street expectations.

The Salt Lake City-based real estate investment trust said it had funds from operations of $460.8 million, or $2.08 per share, in the period.

The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of $2.03 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 $287.4 million, or $1.36 per share.

The self-storage facility real estate investment trust, based in Salt Lake City, posted revenue of $857.5 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $851 million.

For the year, the company reported funds from operations of $1.82 billion. Revenue was reported as $3.38 billion.

Extra Space Storage expects full-year funds from operations in the range of $8.05 to $8.35 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 EXR at https://www.zacks.com/ap/EXR