Edgefront Real Estate Investment Trust Announces Strong Q2 Results, Trustee Changes, Distributions, and Update on Acquisition - Seite 2
June 30,
June 30,
Revenues and Results from Operations in Line with Expectations
Property revenue increased to $3,810,928 in the quarter as compared to $2,697,831 in the same quarter of 2015. Net operating income grew to $3,138,447 in the quarter as compared to $2,201,251 in same quarter of 2015. The growth in property revenue and net operating income is primarily attributable to the impact of acquisitions completed in the second half of 2015, and contractual rent increases adding $34,000 of operating income in the quarter as compared to the same quarter of 2015.
The REIT generated FFO and AFFO of $1,958,865 and $2,193,380 respectively, in the quarter, and FFO per unit and AFFO per unit of $0.049 and $0.055, respectively. FFO per unit and AFFO per unit increased 12.5% and 6.4%, respectively, as compared to FFO and AFFO, respectively, in the same quarter of 2015.
Distributions of $0.04 per unit were declared for the quarter. The AFFO payout ratio for the quarter was 73.4%.
Balance Sheet and Liquidity
Lesen Sie auch
The REIT's debt to total assets ratio was 49.2% at June 30, 2016. The REIT intends to maintain a debt to total assets ratio of less than 55%.