NEW YORK (AP) — NEW YORK (AP) — Urban Edge Properties (UE) on Tuesday reported a key measure of profitability in its first quarter.
The real estate investment trust, based in New York, said it had funds from operations of $40.8 million, or 33 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 $2.6 million, or 2 cents per share.
The real estate investment trust that owns and manages shopping centers, based in New York, posted revenue of $109.6 million in the period.
Urban Edge Properties expects full-year funds from operations in the range of $1.27 to $1.32 per share.
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