BRT: Q1 Earnings Snapshot

Associated Press Finance
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GREAT NECK, N.Y. (AP) — GREAT NECK, N.Y. (AP) — BRT Realty Trust (BRT) on Monday reported a key measure of profitability in its first quarter.

The Great Neck, New York-based real estate investment trust said it had funds from operations of $6.9 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 $4.1 million, or 21 cents per share.

The real estate investment trust posted revenue of $22.9 million in the period.

The company's shares have dropped 11% since the beginning of the year. In the final minutes of trading on Monday, shares hit $17.55, a drop of 15% in the last 12 months.

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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

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