GREAT NECK, N.Y. (AP) — GREAT NECK, N.Y. (AP) — One Liberty Properties Inc. (OLP) on Thursday reported a key measure of profitability in its first quarter.
The real estate investment trust, based in Great Neck, New York, said it had funds from operations of $10.8 million, or 50 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 $5.4 million, or 25 cents per share.
The real estate investment trust, based in Great Neck, New York, posted revenue of $23 million in the period.
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