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.
Sarra Sounds Off, Season 3, Ep 5: Top football teams in action and Nassau soccer playoff picks Gregg Sarra sounds off on Wantagh vs. Bethpage and Ward Melville vs Sachem North, plus Michaeil Sicoli has his Nassau soccer picks, an update on the high school fantasy football standings and the plays of the week.
Sarra Sounds Off, Season 3, Ep 5: Top football teams in action and Nassau soccer playoff picks Gregg Sarra sounds off on Wantagh vs. Bethpage and Ward Melville vs Sachem North, plus Michaeil Sicoli has his Nassau soccer picks, an update on the high school fantasy football standings and the plays of the week.
