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GREENWICH, Conn. (AP) — GREENWICH, Conn. (AP) — Urstadt Biddle Properties Inc. (UBA) on Friday reported a key measure of profitability in its fiscal first quarter.
The Greenwich, Connecticut-based real estate investment trust said it had funds from operations of $15.6 million, or 42 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 net income of $6.8 million, or 18 cents per share.
The commercial real estate investment trust, based in Greenwich, Connecticut, posted revenue of $38.3 million in the period.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a UBA">Zacks stock report on UBA at https://www.zacks.com/ap/UBA