Related topics

BRT: 3Q Earnings Snapshot

November 7, 2019 GMT

GREAT NECK, N.Y. (AP) _ BRT Realty Trust (BRT) on Wednesday reported a key measure of profitability in its third quarter.

The Great Neck, New York-based real estate investment trust said it had funds from operations of $4.2 million, or 26 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 $3.3 million, or 20 cents per share.

The real estate investment trust, based in Great Neck, New York, posted revenue of $34 million in the period, beating Street forecasts. Three analysts surveyed by Zacks expected $32.7 million.

The company’s shares have risen 43% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $16.39, an increase of 42% 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 BRT at https://www.zacks.com/ap/BRT