Cedar Realty Trust reports lower quarterly earnings

Cedar Realty Trust, a real estate investment trust focused on shopping centers in the Northeast, reported lower quarterly earnings Tuesday because a gain from an early lease termination fee that boosted the 2012 figures.

Cedar Realty's funds from operations, a measure typically used by real estate trusts instead of profit, was $10.2 million -- or 14 cents per share -- for the three months ending June 30, down from $10.8 million in the 2012 period.

Revenue at the Port Washington-based company was also fell from $36.9 million in the year-ago period to $35.4 million.

The decreases were due to a $3.4 million gain from lease termination income that buffered the 2012 quarterly earnings, the company said in a news release.