Urstadt Biddle reports 1Q results

GREENWICH, Conn. (AP) _ Urstadt Biddle Properties Inc. (UBA) on Wednesday 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 $10.1 million, or 30 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 $2.1 million, or 6 cents per share.

The commercial real estate investment trust posted revenue of $28.5 million in the period.

The company’s shares have climbed nearly 1 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $22.06, a climb of 9 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 UBA at http://www.zacks.com/ap/UBA

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Keywords: Urstadt Biddle Properties, Earnings Report

Source Article from http://finance.yahoo.com/news/urstadt-biddle-reports-1q-results-230711676.html

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