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Cedar: 3Q Earnings Snapshot

·1 min read

PORT WASHINGTON, N.Y. (AP) _ Cedar Realty Trust Inc. (CDR) on Thursday reported a key measure of profitability in its third quarter. The results topped Wall Street expectations.

The Port Washington, New York-based real estate investment trust said it had funds from operations of $8 million, or 9 cents per share, in the period.

The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 8 cents per share.

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 $1.4 million, or 2 cents per share.

The real estate investment trust posted revenue of $31.2 million in the period.

In the final minutes of trading on Thursday, the company's shares hit 99 cents. A year ago, they were trading at $3.35.

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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 CDR at https://www.zacks.com/ap/CDR