Cedar: Q2 Earnings Snapshot
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.