UNIONDALE, N.Y. (AP) _ Arbor Realty Trust (ABR) on Friday reported a key measure of profitability in its second quarter.

The real estate investment trust, based in Uniondale, New York, said it had funds from operations of $28 million, or 31 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 $17.2 million, or 25 cents per share.

The real estate investment trust posted revenue of $59.3 million in the period.

The company's shares have climbed 32 percent since the beginning of the year. The stock has increased 37 percent in the last 12 months.

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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 ABR at https://www.zacks.com/ap/ABR