UNIONDALE, N.Y. – UNIONDALE, N.Y. (AP) _ Arbor Realty Trust (ABR) on Friday reported a key measure of profitability in its third quarter.
The real estate investment trust, based in Uniondale, New York, said it had funds from operations of $36.4 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 $27.7 million, or 36 cents per share.
The real estate investment trust posted revenue of $67.5 million in the period.
The company's shares have climbed 38 percent since the beginning of the year. The stock has climbed 45 percent in the last 12 months.
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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
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