Arbor Realty Trust: 2Q Earnings Snapshot
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.