FREEHOLD, N.J. (AP) 鈥� FREEHOLD, N.J. (AP) 鈥� UMH Properties Inc. (UMH) on Thursday reported a key measure of profitability in its first quarter.
The real estate investment trust, based in Freehold, New Jersey, said it had funds from operations of $19.4 million, or 23 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 $2.6 million, or 3 cents per share.
The real estate investment trust, based in Freehold, New Jersey, posted revenue of $65.8 million in the period.
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