Urstadt: Fiscal 1Q Earnings Snapshot

March 9, 2020 GMT

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

The real estate investment trust, based in Greenwich, Connecticut, said it had funds from operations of $12.9 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 net income of $5.1 million, or 13 cents per share.

The real estate investment trust posted revenue of $34.3 million in the period.


The company’s shares have dropped 22% since the beginning of the year. In the final minutes of trading on Monday, shares hit $15.43, a fall of 6% 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 UBP at https://www.zacks.com/ap/UBP