GREAT NECK, N.Y. – GREAT NECK, N.Y. (AP) _ BRT Realty Trust (BRT) on Thursday reported a key measure of profitability in its fiscal first quarter.
The real estate investment trust, based in Great Neck, New York, said it had funds from operations of $3.6 million, or 22 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 $8.1 million, or 51 cents per share.
The real estate investment trust posted revenue of $31.4 million in the period.
The company's shares have increased 14 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $13.05, a climb of 15 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 BRT at https://www.zacks.com/ap/BRT
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