GREAT NECK, N.Y. – GREAT NECK, N.Y. (AP) _ One Liberty Properties Inc. (OLP) on Monday reported a key measure of profitability in its second quarter.
The Great Neck, New York-based real estate investment trust said it had funds from operations of $10.5 million, or 54 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 $4.5 million, or 23 cents per share.
The real estate investment trust posted revenue of $19.8 million in the period.
The company's shares have increased nearly 5 percent since the beginning of the year. The stock has climbed 11 percent in the last 12 months.
This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on OLP at https://www.zacks.com/ap/OLP