UNIONDALE, N.Y. – UNIONDALE, N.Y. (AP) _ Arbor Realty Trust (ABR) on Friday reported a key measure of profitability in its second quarter.
The real estate investment trust, based in Uniondale, New York, said it had funds from operations of $28 million, or 31 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 $17.2 million, or 25 cents per share.
The real estate investment trust posted revenue of $59.3 million in the period.
The company's shares have climbed 32 percent since the beginning of the year. The stock has increased 37 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 ABR at https://www.zacks.com/ap/ABR