GREAT NECK, N.Y. (AP) _ One Liberty Properties Inc. (OLP) on Wednesday reported a key measure of profitability in its second quarter.
The real estate investment trust, based in Great Neck, New York, said it had funds from operations of $9.5 million, or 48 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 $4.1 million, or 20 cents per share.
The real estate investment trust posted revenue of $20.7 million in the period.
The company's shares have climbed 16% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $28.17, rising slightly in the last 12 months.