FFO was $ 0.36 per share for the six months ended March 31, 2011, compared with $ 0.34 per share for the six months ended March 31, 2010. . / PRNewswire / – Monmouth Real Estate Investment Corporation (NYSE: DNR) reported a net profit attributable to shareholders was $ 2,794,000 or $ 0.08 per share for the three months ended March 31, 2011, compared with net income result joint $ 2.502 million or $ 0.09 per share for the quarter ended March 31, 2010. Funds from Operations (FFO) were $ 5,651,000 or $ 0.16 per share for the three months ended March 31, 2011 compared to $ 5,073,000 or $ 0.18 per share for the quarter ended March 31, 2010 .
Our real estate portfolio continued to perform well and is currently occupied 97% of leases expire on average 5.1 years. We have enough capital to invest and continue to execute our strategy of investing in industrial networks, leased leases to long-term investment grade tenants .. Landy, President, commented on second quarter results March 31, 2011, "We are pleased with our second quarter results. Our investment portfolio also continued to perform well with $ 3.8 million in earnings to date in the year fiscal 2011 and an additional 9.3 million in unrealized gains at the end of the quarter. Eugene W. Together with the acquisitions made to date, fiscal 2011 represents a year of significant growth. Now we have three acquisitions totaling $ 33,000,000, which represents 530,000 meters square under contract and should close before year end.
ET. Monmouth Real Estate Investment Corporation, a real estate investment trust (REIT) which specializes in net lease commercial real estate, will host its second quarter 2011 financial results conference call and online. Senior management will discuss quarterly results, market conditions and future prospects Tuesday, May 10, 2011 10:00
Factors and risks that could cause actual results or events to differ materially from the expectations contained in the Annual Report on Form 10-K and described from time to time in other documents filed by the Company with the SEC. The Company undertakes no obligation to publicly update or revise any forward-looking statements as a result of new information, future events or otherwise. Although the company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, the Company can not guarantee that these expectations are realized. Certain statements in this press release that are not historical facts may be forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
The items excluded from FFO and FFO per share are important in understanding the Company's financial results. FFO and FFO per share should be considered as measures of operating performance used by real estate investment trusts (REITs). (1) Non-GAAP Information: Funds from operations (FFO) is defined as income (loss) applicable to common shareholders, excluding gains or losses from sales of depreciable property, plus depreciation of real estate related disabilities. FFO per share is defined as FFO divided by weighted average shares outstanding. FFO and FFO per share exclude historical cost depreciation as an expense and may facilitate the comparison of REITs which have different cost bases.
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