Arbor Realty Trust reports 3Q results

UNIONDALE, N.Y. (AP) _ Arbor Realty Trust (ABR) on Friday reported a key measure of profitability in its third quarter.

The Uniondale, New York-based real estate investment trust said it had funds from operations of $21 million, or 25 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 $16.4 million, or 26 cents per share.

The real estate investment trust posted revenue of $42.1 million in the period.

The company's shares have increased 11 percent since the beginning of the year. The stock has increased 14 percent in the last 12 months.


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