PARAMUS, N.J. (AP) _ Alexander's Inc. (ALX) on Monday reported a key measure of profitability in its third quarter.

The Paramus, New Jersey-based real estate investment trust said it had funds from operations of $21.2 million, or $4.13 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 $11.4 million, or $2.22 per share.

The real estate investment trust posted revenue of $49 million in the period.

The company's shares have climbed 0.5% since the beginning of the year. The stock has increased 15% in the last 12 months.

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