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Urstadt reports 1Q results

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

The Greenwich, Connecticut-based real estate investment trust said it had funds from operations of $10.4 million, or 28 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 $3.4 million, or 9 cents per share.

The real estate investment trust posted revenue of $29.1 million in the period.

The company's shares have fallen 14 percent since the beginning of the year. In the final minutes of trading on Friday, shares hit $16.41, a decrease of slightly more than 7 percent 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

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Keywords: Urstadt Biddle, Earnings Report