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 $35.6 million, or 33 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 $50.6 million, or 50 cents per share.
The real estate investment trust that owns and manages shopping centers posted revenue of $126.1 million in the period.
The company's shares have fallen almost 5 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $26.18, a drop of almost 1 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 UE at https://www.zacks.com/ap/UE
Keywords: Urban Edge Properties, Earnings Report