Pure Industrial Real Estate Trust Announces Release of Q1 2012 Financial Results and Cash Distribution for May 2012
15 Maio 2012 - 8:25AM
PR Newswire (Canada)
VANCOUVER, May 17, 2012 /CNW/ - Pure Industrial Real Estate Trust
("PIRET" or the "REIT") is pleased to announce the release of its
financial results for the three months ended March 31, 2012. Q1
2012 Financial Results The results, consisting of PIRET's unaudited
interim condensed financial statements for the three months ended
March 31, 2012, and Management's Discussion and Analysis
("MD&A") dated May 17(th), 2012, are available on SEDAR
(www.sedar.com). Highlights for the three months ended March 31,
2012: -- As at March 31, 2012, PIRET's portfolio consists of 66
properties representing gross leasable area of over 4.5 million
square feet, up from 62 properties and 4.0 million square feet at
December 31, 2011. The acquisitions continue to strengthen the
Trust's high quality national and regional tenant base within
Canada. -- PIRET raised $69.4 million by issuing 15,983,100 Class A
units from two bought deal public offerings. -- The occupancy is
consistent at 99% for our portfolio as at March 31, 2012 with a
weighted average lease term of 9.6 years. -- Investment properties
increased to $475.8 million as at March 31, 2012 from $439.5
million at December 31, 2011 due to the acquisition of 4
properties. -- Loan to Gross Book Value as at March 31, 2012 was
48.7%, down from 55.7% at December 31, 2011. -- Revenue for the
three months ended March 31st increased 90% from $6.0 million in
2011 to $11.3 million in 2012. -- Earnings from property operations
increased by 81% for the three months ended March 31, 2012 compared
to the same period at March 31, 2011 from $4.8 million to $8.7
million. -- Funds from operations ("FFO")(1) for the three months
ended March 31, 2012 increased to $5.5 million compared to $2.9
million for the same period in 2011. On a per unit basis, FFO for
the three months ended March 31, 2012 increased to $0.09 from $0.08
for the same period in 2011. -- Adjusted funds from operations
("AFFO" ) (1) increased from $2.4 million to $5.0 million for the
three months ended March 31, 2011 and 2012 respectively. On a per
unit basis, AFFO was $0.08 for the three months ended March 31,
2012 compared to $0.07 for the same period for 2011. ((1)) 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 As previously
announced on May 10, 2012, management will host the conference call
at 4:30pm (EST), 1:30 pm (PST), on Thursday, May 17, 2012, to
review the financial results and corporate developments for the
three months ended March 31, 2012. 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 1-888-231-8191 number (from
Canada and USA) International or 1-647-427-7450 Local Toronto
Conference Call Replay If you cannot participate on May 17th, 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 May 24, 2012. Please enter
the Replay ID# 78866739, followed by the # key. Replay Dial in
number 1-855-859-2056 (Toll Free from Canada or the USA) Local
Dial-in numbers Vancouver 778-371-8506 Calgary 403-451-9481 Toronto
416-849-0833 Ottawa 613-667-0035 Montreal 514-807-9274 Halifax
902-455-3955 Distributions The REIT is also pleased to announce
today that its Board of Trustees has approved a cash distribution
of $0.025 per trust unit for the month of May 2012 (equivalent to
$0.30 per trust unit on an annualized basis). This distribution
will be paid on June 15, 2012 to unitholders of record at the close
of business on May 31, 2012. The policy of Pure Industrial Real
Estate Trust is to pay cash distributions on or about the 15th day
of each month to the unitholders of record on the last business day
of the preceding month. The REIT currently has 66,407,003 units
issued and outstanding. 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. Additional information about PIRET
is available at www.piret.ca or www.sedar.com. TSX Venture Exchange
- AAR.UN NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION
SERVICES PROVIDER (as that term is defined in the policies of the
TSX Venture Exchange) HAS REVIEWED OR ACCEPTS 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
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