NEW YORK (AP) 鈥� NEW YORK (AP) 鈥� Urban Edge Properties (UE) on Thursday reported a key measure of profitability in its second quarter.
The New York-based real estate investment trust said it had funds from operations of $52.3 million, or 40 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 $17.9 million, or 14 cents per share.
The real estate investment trust that owns and manages shopping centers, based in New York, posted revenue of $122.8 million in the period. Its adjusted revenue was $122.6 million.
Urban Edge Properties expects full-year funds from operations in the range of $1.50 to $1.54 per share.
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