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Cedar: Q2 Earnings Snapshot

August 4, 2022 GMT

MASSAPEQUA, N.Y. (AP) _ Cedar Realty Trust Inc. (CDR) on Thursday reported a key measure of profitability in its second quarter.

The real estate investment trust, based in Massapequa, New York, said it had funds from operations of $7.9 million, or 58 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 $45.3 million, or $3.41 per share.

The real estate investment trust posted revenue of $8.5 million in the period.

The company’s shares have climbed 16% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $29.03, an increase of 74% 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 CDR at https://www.zacks.com/ap/CDR