Urstadt: Fiscal Q1 Earnings Snapshot

March 11, 2022 GMT

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

The real estate investment trust, based in Greenwich, Connecticut, said it had funds from operations of $12.9 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 $5.4 million, or 14 cents per share.

The real estate investment trust, based in Greenwich, Connecticut, posted revenue of $35.6 million in the period.

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