One Liberty Properties reports 4Q results

Associated Press |

GREAT NECK, N.Y. (AP) _ One Liberty Properties Inc. (OLP) on Tuesday reported a key measure of profitability in its fourth quarter.

The real estate investment trust, based in Great Neck, New York, said it had funds from operations of $10.1 million, or 53 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 $4.2 million, or 22 cents per share.

The real estate investment trust posted revenue of $19.9 million in the period.

For the year, the company reported funds from operations of $39.1 million, or $2.09 per share. Revenue was reported as $75.9 million.

The company's shares have decreased nearly 10 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $23.42, an increase of 1 percent 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 OLP at https://www.zacks.com/ap/OLP

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