UNIONDALE, N.Y. (AP) _ Arbor Realty Trust (ABR) on Friday reported a key measure of profitability in its first quarter.
The Uniondale, New York-based real estate investment trust said it had funds from operations of $35.5 million, or 33 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 $22.7 million, or 26 cents per share.
The real estate investment trust posted revenue of $71.3 million in the period.
The company's shares have increased 28% since the beginning of the year. The stock has climbed 36% 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 ABR at https://www.zacks.com/ap/ABR