Pure Industrial Real Estate Trust Announces Release of Fiscal 2011 Financial Results and Schedules Conference Call
10 Março 2012 - 12:27PM
PR Newswire (Canada)
VANCOUVER, March 13, 2012 /CNW/ - Pure Industrial Real Estate Trust
("PIRET" or the "REIT") is pleased to announce the release of its
financial results for the period ending December 31, 2011. Q4 2011
Financial Results The 2011 financial results consist of PIRET's
audited financial statements for the year ended December 31, 2011.
The results, consisting of PIRET's audited financial statements and
Management's Discussion and Analysis ("MD&A") dated March
13(th), 2012, are available on SEDAR (www.sedar.com). Highlights
for the year ended December 31, 2011: -- As at December 31, 2011,
PIRET's portfolio consists of 62 properties representing gross
leasable area of just over 4 million square feet, up from 33
properties and 2.0 million square feet at the end of 2010. The
acquisitions represent industrial investment properties in primary
markets and have strengthened the Trust's high quality national and
regional tenant base within Canada. -- The occupancy continues to
be strong at 99% for our portfolio as at December 31, 2011 with a
weighted average lease term of 10 years, one of the longest in the
Canadian REIT world. -- Investment properties increased to $439.5
million from $207.5 million at December 31, 2010 due to the
acquisition of 29 properties. With these acquisitions, PIRET
continues to execute its accretive growth strategy and diversity
its portfolio geographically. -- Loan to Gross Book Value as at
December 31, 2011 was 55.7%, up from 54.5% at December 31, 2010. --
Revenue for the year increased from $14.3 million in 2010 to $34.9
million in 2011 (144%). For the 3 months ended December 31,
revenues increased from $4.5 million in 2010 to $11.2 million in
2011 (149%). -- Net operating earnings increased by 132% compared
to the year ended December 31, 2010 from $11.7 million to $27.2
million. -- Funds from operations ("FFO") for the year increased to
$16.5 million compared $5.9 million in 2010. On a per unit basis,
FFO for year increased to $0.35 from $0.30 in 2010. For the 4th
quarter, FFO per unit was $0.10 in 2011 compared to $0.07 in the
previous year. The FFO payout ratio decreased from 106% in 2010 to
87% in 2011 -- On an Adjusted Funds from Operations ("AFFO") basis,
there was an increase from $5.6 million to $14.5 million for the
year and on a per unit basis, AFFO was $0.31 compared to $0.28 in
the previous year. For the 3 months ended December 31, AFFO per
unit was $0.09 compared to $0.06 in 2010. The AFFO payout ratio
trended downwards from 112% in 2010 to 99% in 2011. On a quarterly
basis, the payout ratio in the fourth quarter 2011 was 87.4%,
significantly lower than the 130% during the same quarter in 2010.
-- 2011 was the first year that PIRET transitioned to International
Financial Reporting Standards ("IFRS"). The audited financial
statements and management's discussion and analysis provide more
detail regarding changes in accounting policy and variances in
annual comparative periods. -- FFO and AFFO are widely accepted
supplemental measures of financial performance for real estate
entities. However, these measures are not defined under IFRS. The
MD&A provides more detail regarding this measure. Conference
Call Management will host a conference call at 5:00pm (EST), 2:00
pm (PST), on Tuesday, March 13th, 2011, to review the financial
results and corporate developments for the year ended December 31,
2011. To participate in this conference call, please dial one of
the following numbers approximately 10 minutes prior to the
commencement of the call, and ask to join the Pure Industrial Real
Estate Trust Conference Call. Dial in numbers: Toll Free dial in
number (from Canada and USA) 1-888-231-8191 International or Local
Toronto 1-647-427-7450 Conference Call Replay If you cannot
participate on March 13th, a replay of the conference call will be
available by dialing one of the following replay numbers. You will
be able to dial in and listen to the conference 120 minutes after
the meeting end time, and the replay will be available until March
27, 2012. Please enter the Replay ID#56159884, followed by the #
key. Replay Dial in number (Toll Free from Canada or the USA)
1-800-859-2056 Local Replay Dial-in numbers Calgary 403-451-9481
Vancouver 778-371-8506 Toronto 416-849-0833 Ottawa 613-667-0035
Montrea 514-807-9274 Halifax 902-455-3955 PIRET's units are listed
on the TSX Venture Exchange under the symbol AAR.UN. Additional
information about PIRET is available at www.piret.ca or
www.sedar.com. About Pure Industrial Real Estate Trust (PIRET)
PIRET is an unincorporated, open-ended investment trust established
for the purposes of acquiring, owning and operating a diversified
portfolio of income-producing industrial properties in primary
markets across Canada. PIRET focuses exclusively on investing
in industrial properties and is the only publicly traded vehicle in
Canada that offers investors exclusive exposure to Canada's
industrial asset class. THE TSX VENTURE EXCHANGE HAS NOT REVIEWED
AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY
OF THIS RELEASE. Pure Industrial Real Estate Trust (PIRET) CONTACT:
Andrew Greig,Director of Investor RelationsPure Industrial Real
Estate Trust (PIRET)Suite 910, 925 West Georgia StreetVancouver, BC
V6C 3L2Phone: (604) 681-5959 or (888) 681-5959E-mail:
agreig@piret.cawww.piret.ca TSX Venture Exchange - AAR.UN
Copyright
Pure Industrial Real Estate Trust (TSXV:AAR.UN)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024
Pure Industrial Real Estate Trust (TSXV:AAR.UN)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024
Notícias em tempo-real sobre Pure Industrial Real Estate Trust da TSX Venture Exchange bolsa de valores: 0 artigos recentes
Mais Notícias de Pure Industrial Real Estate Trust