Arbor Realty Trust: 2Q Earnings Snapshot
UNIONDALE, N.Y. (AP) _ Arbor Realty Trust (ABR) on Friday reported a key measure of profitability in its second quarter.
The Uniondale, New York-based real estate investment trust said it had funds from operations of $37.9 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 $28.9 million, or 31 cents per share.
The real estate investment trust posted revenue of $82.2 million in the period.
The company’s shares have risen 22% since the beginning of the year. The stock has risen nearly 8% in the last 12 months.