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NEW YORK (AP) — NEW YORK (AP) — Urban Edge Properties (UE) on Wednesday reported a key measure of profitability in its fourth quarter.
The New York-based real estate investment trust said it had funds from operations of $44.1 million, or 34 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 $30.1 million, or 24 cents per share.
The real estate investment trust that owns and manages shopping centers, based in New York, posted revenue of $116.4 million in the period. Its adjusted revenue was $116.3 million.
For the year, the company reported funds from operations of $169.7 million. Revenue was reported as $444.5 million.
Urban Edge Properties expects full-year funds from operations in the range of $1.37 to $1.42 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on UE at https://www.zacks.com/ap/UE