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.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BRT at https://www.zacks.com/ap/BRT
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.