GREENWICH, Conn. (AP) — GREENWICH, Conn. (AP) — Urstadt Biddle Properties Inc. (UBP) on Wednesday 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 $13.1 million, or 35 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 $5.2 million, or 14 cents per share.

The real estate investment trust, based in Greenwich, Connecticut, posted revenue of $35.1 million in the period.

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