GREAT NECK, N.Y. (AP) _ One Liberty Properties Inc. (OLP) on Tuesday reported a key measure of profitability in its first quarter.
The real estate investment trust, based in Great Neck, New York, said it had funds from operations of $10 million, or 51 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 $4 million, or 19 cents per share.
The real estate investment trust posted revenue of $21.2 million in the period.
The company's shares have increased 17% since the beginning of the year. The stock has climbed 13% 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 OLP at https://www.zacks.com/ap/OLP