BRT: Fiscal 2Q Earnings Snapshot

GREAT NECK, N.Y. (AP) _ BRT Realty Trust (BRT) on Tuesday reported a key measure of profitability in its fiscal second quarter.

The Great Neck, New York-based real estate investment trust said it had funds from operations of $3.6 million, or 25 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 $25.2 million, or $1.75 per share.

The real estate investment trust posted revenue of $29.7 million in the period.

The company's shares have climbed almost 4 percent since the beginning of the year. The stock has increased 51 percent in the last 12 months.


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