U.S. Markets closed

Urban Edge Properties: 1Q Earnings Snapshot

  • Oops!
    Something went wrong.
    Please try again later.
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

NEW YORK (AP) _ Urban Edge Properties (UE) on Wednesday reported a key measure of profitability in its first quarter.

The real estate investment trust, based in New York, said it had funds from operations of $37.1 million, or 29 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 $25.5 million, or 22 cents per share.

The real estate investment trust that owns and manages shopping centers posted revenue of $97.7 million in the period.

The company's shares have increased 12% since the beginning of the year. The stock has decreased 11% 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 UE at https://www.zacks.com/ap/UE