GREAT NECK, N.Y. (AP) _ One Liberty Properties Inc. (OLP) on Thursday reported a key measure of profitability in its third quarter.
The Great Neck, New York-based real estate investment trust said it had funds from operations of $9.4 million, or 47 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 $5.1 million, or 25 cents per share.
The real estate investment trust posted revenue of $20.4 million in the period.
The company's shares have risen 14% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $27.73, a rise of 6% in the last 12 months.