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Seritage Growth Properties reports 3Q results

NEW YORK (AP) _ Seritage Growth Properties (SRG) on Thursday reported a key measure of profitability in its third quarter.

The New York-based real estate investment trust said it had funds from operations of $17.6 million, or 32 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 $10.5 million, or 31 cents per share.

The real estate investment trust posted revenue of $64 million in the period.

The company's shares have declined 4 percent since the beginning of the year. The stock has dropped almost 8 percent 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 SRG at https://www.zacks.com/ap/SRG