GREAT NECK, N.Y. (AP) — GREAT NECK, N.Y. (AP) — BRT Realty Trust (BRT) on Thursday reported a key measure of profitability in its fourth quarter.
The real estate investment trust, based in Great Neck, New York, said it had funds from operations of $6.5 million, or 34 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 $4.3 million, or 23 cents per share.
The real estate investment trust posted revenue of $24.3 million in the period.
For the year, the company reported funds from operations of $27.4 million, or $1.45 per share. Revenue was reported as $97 million.
The company’s shares have fallen almost 2% since the beginning of the year. The stock has dropped 24% in the last 12 months.
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