GREENWICH, Conn. (AP) _ Urstadt Biddle Properties Inc. (UBP) on Monday reported a key measure of profitability in its fiscal second quarter.

The real estate investment trust, based in Greenwich, Connecticut, said it had funds from operations of $11.7 million, or 31 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 $4.6 million, or 12 cents per share.

The real estate investment trust posted revenue of $32.9 million in the period.

The company's shares have increased 29% since the beginning of the year. In the final minutes of trading on Monday, shares hit $15.51, a rise of 10% 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 UBP at https://www.zacks.com/ap/UBP

© 2021 The Canadian Press. All rights reserved., source Canadian Press DataFile