FREEHOLD, N.J. (AP) — FREEHOLD, N.J. (AP) — UMH Properties Inc. (UMH) on Wednesday reported a key measure of profitability in its fourth quarter.
The Freehold, New Jersey-based real estate investment trust said it had funds from operations of $19.2 million, or 24 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 $28,000, or less than 1 cent on a per-share basis.
The real estate investment trust, based in Freehold, New Jersey, posted revenue of $61.9 million in the period.
For the year, the company reported funds from operations of $69.5 million. Revenue was reported as $240.6 million.
UMH expects full-year funds from operations in the range of 96 cents to $1.04 per share.
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