One Liberty Properties: 2Q Earnings Snapshot
GREAT NECK, N.Y. (AP) _ One Liberty Properties Inc. (OLP) on Monday reported a key measure of profitability in its second quarter.
The Great Neck, New York-based real estate investment trust said it had funds from operations of $10.5 million, or 54 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 $4.5 million, or 23 cents per share.
The real estate investment trust posted revenue of $19.8 million in the period.
The company’s shares have increased nearly 5 percent since the beginning of the year. The stock has climbed 11 percent in the last 12 months.