GREAT NECK, N.Y. (AP) — GREAT NECK, N.Y. (AP) — BRT Realty Trust (BRT) on Tuesday reported a key measure of profitability in its fourth quarter.
The Great Neck, New York-based real estate investment trust said it had funds from operations of $7 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 a loss of $4.2 million, or 22 cents per share.
The real estate investment trust posted revenue of $22.7 million in the period.
For the year, the company reported funds from operations of $28.4 million, or $1.52 per share. Revenue was reported as $70.5 million.
The company’s shares have climbed roughly 2% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $19.97, a decrease of 14% in the last 12 months.
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