Urstadt: Fiscal 4Q Earnings Snapshot
GREENWICH, Conn. (AP) _ Urstadt Biddle Properties Inc. (UBP) on Friday reported a key measure of profitability in its fiscal fourth quarter.
The real estate investment trust, based in Greenwich, Connecticut, said it had funds from operations of $12.6 million, or 33 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 $5.1 million, or 14 cents per share.
The real estate investment trust posted revenue of $32.5 million in the period.
For the year, the company reported funds from operations of $55.2 million, or $1.47 per share. Revenue was reported as $135.4 million.
The company’s shares have declined almost 1 percent since the beginning of the year. In the final minutes of trading on Friday, shares hit $16.84, a decline of slightly more than 6 percent in the last 12 months.