GREAT NECK, N.Y. (AP) — GREAT NECK, N.Y. (AP) — BRT Realty Trust (BRT) on Thursday reported a key measure of profitability in its third quarter.
The Great Neck, New York-based real estate investment trust said it had funds from operations of $6.8 million, or 36 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 $2.2 million, or 12 cents per share.
The real estate investment trust posted revenue of $24.4 million in the period.
The company’s shares have declined almost 1% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $18.45, a rise of slightly more than 8% in the last 12 months.
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