UNIONDALE, N.Y. (AP) _ Arbor Realty Trust (ABR) on Friday reported a key measure of profitability in its fourth quarter.
The real estate investment trust, based in Uniondale, New York, said it had funds from operations of $42.1 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 $35.5 million, or 34 cents per share.
The real estate investment trust posted revenue of $82 million in the period.
For the year, the company reported funds from operations of $158 million, or $1.36 per share. Revenue was reported as $315.9 million.
The company's shares have increased 5% since the beginning of the year. The stock has increased 26% in the last 12 months.