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NEW YORK (AP) _ Urban Edge Properties (UE) on Wednesday reported a key measure of profitability in its fourth quarter.
The real estate investment trust, based in New York, said it had funds from operations of $40.7 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 $6.5 million, or 6 cents per share.
The real estate investment trust that owns and manages shopping centers posted revenue of $100.9 million in the period.
For the year, the company reported funds from operations of $165.4 million, or $1.31 per share. Revenue was reported as $414.2 million.
The company's shares have increased 24 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $20.54, a decrease of 3 percent in the last 12 months.