NEW YORK (AP) _ Urban Edge Properties (UE) on Wednesday reported a key measure of profitability in its fourth quarter.
The real estate investment trust, based in New York, said it had funds from operations of $36.3 million, or 29 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 $3.4 million, or 3 cents per share.
The real estate investment trust that owns and manages shopping centers posted revenue of $95.9 million in the period.
For the year, the company reported funds from operations of $147.4 million, or $1.16 per share. Revenue was reported as $387.6 million.
The company's shares have declined 2.5% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $18.71, a drop of 8.5% in the last 12 months.