AP NEWS

Urstadt: Fiscal 4Q Earnings Snapshot

December 14, 2018

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.

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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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