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 real estate investment trust, based in Freehold, New Jersey, said it had funds from operations of $20.5 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 a loss of $506,000, or 1 cent per share.
The real estate investment trust, based in Freehold, New Jersey, posted revenue of $67 million in the period.
For the year, the company reported funds from operations of $80.1 million. Revenue was reported as $261.8 million.
UMH expects full-year funds from operations in the range of 97 cents to $1.05 per share.
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