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Urstadt: Fiscal 3Q Earnings Snapshot

September 5, 2019

GREENWICH, Conn. (AP) _ Urstadt Biddle Properties Inc. (UBP) on Thursday reported a key measure of profitability in its fiscal third quarter.

The Greenwich, Connecticut-based real estate investment trust said it had funds from operations of $14.2 million, or 37 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 $7.3 million, or 19 cents per share.

The real estate investment trust posted revenue of $34.5 million in the period.

The company’s shares have increased 16% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $17.47, a fall of slightly more than 4% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on UBP at https://www.zacks.com/ap/UBP

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