Whitestone 2012 Funds from Operations Increase, Says Invezz.com
iNVEZZ.com, an investment-focused online media, provides another insightful coverage of the latest developments in the REIT sector in its REIT Deals Watch.
iNvezz.com, the investors’ portal, today published its latest REIT Deals Watch.The article focuses on the recently announced financial results for 2012of Texas-based real estate investment trust Whitestone. On Tuesday, March 12, the REIT reported funds from operations (FFO) at $10.3 million (‚6.9 million), up from $8.7 million in the previous year, the website informs. Total revenue also increased to $46.6 million, up 34 percent from 2011. The company also announced a monthly dividend of $0.10 (‚0.07) per share, to be paid on April 9.The REIT has spent about $107.6 million on acquisitions of community centred properties during 2012, the iNVEZZ article said.
The article goes on to say that PROREIT, a Montreal-based real estate investment trust, has announced earlier the acquisition of two properties in Quebec and one property in Amherst, in line with its plans to build up a solid portfolio of commercial, retail and industrial property assets in Quebec and the Maritimes before expanding to the rest of Canada. iNVEZZ.com quotes the trust’s president and chief executive officer James Beckerleg as saying that the Maritimes offer some great opportunities for the company.
One can also read in the article that analysts at research firm Zackshave recently upgraded their rating on the stock of Select Income real estate investment trust from “neutral” to “outperform”. Select Income’s financial results posted last month meet analyst projections for the company’s earnings per share.
iNVEZZ.com is a newly launched investment-focused web portal offering news and analyses on a broad range of markets and investment classes such as forex, equities, commodities, real estate and energy. The website provides accurate and timely information with up-to-the-minute updates on the latest developments in the global markets.
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