Urstadt: Fiscal Q2 Earnings Snapshot

June 8, 2022 GMT

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

The Greenwich, Connecticut-based real estate investment trust said it had funds from operations of $14.3 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 $7.1 million, or 18 cents per share.

The real estate investment trust, based in Greenwich, Connecticut, posted revenue of $36 million in the period.

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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