Seritage Growth Properties: 2Q Earnings Snapshot
NEW YORK (AP) _ Seritage Growth Properties (SRG) on Thursday reported a key measure of profitability in its second quarter.
The real estate investment trust, based in New York, said it had funds from operations of $8.5 million, or 15 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 a loss of $8 million, or 23 cents per share.
The real estate investment trust posted revenue of $49.3 million in the period.
The company’s shares have climbed 21 percent since the beginning of the year. The stock has climbed 4.5 percent in the last 12 months.