NEW YORK (AP) _ Bluerock Residential Growth REIT Inc. (BRG) on Thursday reported a key measure of profitability in its second quarter, after reporting a loss in the same period a year earlier.
The real estate investment trust, based in New York, said it had funds from operations of $6 million, or 16 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 a loss of $5.4 million, or 21 cents per share.
The owner of Southeastern U.S. apartment properties posted revenue of $53.8 million in the period.
Bluerock expects full-year funds from operations in the range of 65 cents to 70 cents per share.
The company's shares have fallen roughly 2% since the beginning of the year. The stock has risen 71% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BRG at https://www.zacks.com/ap/BRG