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Urstadt: Fiscal 4Q Earnings Snapshot

·1 min read

GREENWICH, Conn. (AP) _ Urstadt Biddle Properties Inc. (UBP) on Wednesday reported a key measure of profitability in its fiscal fourth quarter.

The real estate investment trust, based in Greenwich, Connecticut, said it had funds from operations of $12.8 million, or 34 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 a loss of $913,000, or 2 cents per share.

The real estate investment trust posted revenue of $32.3 million in the period.

For the year, the company reported funds from operations of $45.2 million, or $1.19 per share. Revenue was reported as $126.7 million.

The company's shares have dropped 36% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $12.81, a decline of 32% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on UBP at https://www.zacks.com/ap/UBP