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HCN Reports Normalized FFO of $0.78 vs. $0.74 in Q2-06 Businesswire 8-07 HCN reported FFO of $56.207 million [$0.75/share] compared to $41.354 million [$0.74/share] in Q2-06. FAD was $0.74 compared to $0.76 in Q2-06. NOI for Q2-07 was $16.6 million, which represents $23.8 million of rental income less $7.2 million of property operating expenses. During Q2-07 HCN received a debt upgrade to BBB from Fitch Ratings. HCP Reports FFO of $0.58 vs. $0.47 in Q2-06 Businesswire 7-31 HCP reported FFO of $120.4 million [$0.58/share] compared to $64.7 million [$0.47/share] in Q2-06. FFO applicable to common shares for the six months ended June 30, 2007, was $222.8 million [$1.07/share] compared to 137.7 million [$1.00/share] in the year ago period. FFO applicable to common shares for the six months ended June 30, 2007, includes the impact of merger-related charges of $0.05 per diluted share of common stock. Merger-related charges in 2007 include the amortization of fees associated with our CNL Retirement Properties merger financing, severance and retention related compensation, as well as other CRP integration costs. HR Reports FFO of $0.40 vs. $0.58 in Q2-06 PRNewswire 7-30 HR reported FFO of $18.9 million [$0.40/share] compared with $27.5 million [$0.58/share] for Q2-06. Net income for Q2-07 was $13.6 million [$0.29/share] versus $11.5 million [$0.24/share] for Q2-06. Net income for the Q2-07 included a gain of $7.5 million largely related to the disposition of 35 senior living properties and related expenses. LTC Reports FFO of $0.50 vs. $0.47 in Q2-06 Businesswire 8-07 LTC reported FFO available to common stockholders of $12.819 million [$0.50/share] compared to $11.366 million [$0.47/share] in Q2-06. Net income available to common stockholders of $8.6 million [$0.36/share] compared to $7.7 million [$0.33/share] in Q2-06. Revenues for Q2-07 were $19.8 million compared to $18.6 million for Q2-06. NHP Reports FFO of $0.51 vs. $0.48 in Q2-06 PRNewswire 8-01 NHP reported FFO of $48.576 million [$0.51/share] compared to $38.158 million [$0.48/share] in Q2-06. Income available to common stockholders in Q2-07 was $83.642 million compared to $19.239 million in Q2-06 due to a one time gain on the sale of facilities of $61.180 million in the quarter. On June 29, 2007, NHP sold 36 skilled nursing facilities, all but one of which was in Texas, and a related loan for $128 million. This portfolio represented the entire leased portfolio with Complete Care Services. The sales price represents a capitalization rate on the July 1, 2007 annualized rent of 8.5%. The portfolio had an average age of 35 years and resulted in a gain of $60 million and a $78 million reduction to gross investments in skilled nursing facilities. OHI Reports FFO of $0.33 vs. $0.39 in Q2-06 Businesswire 8-07 OHI reported FFO of $22.4 million [$0.33/share] compared to $22.7 million [$0.39/share] for Q2-06. OHI reported net income available to common stockholders of $13.6 million [$0.20/share] comapred to $15.0 million [$0.26/share] in Q2-06. Operating revenues were $38.2 million compared to $17.5 million in Q2-06. SNH Reports FFO of $0.33 vs. $0.39 in Q2-06 Businesswire 7-30 SNH reported FFO of $34.0 million [$0.41/share] compared to $27.8 million [$0.39/share] in Q2-06. Net income for Q2-07 was $20.6 million [$0.25/share] compared to $12.7 million [$0.18/share] for Q2-06. During Q2-06 SNH recognized an impairment of assets charge of $1.4 million [$0.02/share] related to three properties that were sold during Q4-06 and a loss on early extinguishment of debt of $1.3 million [$0.02/share] related to the $28.2 million redemption of all of SNH's 10.125% junior subordinated debentures. UHT Reports FFO of $0.63 vs. $0.63 in Q2-06 PRNewswire 7-24 UHT reported FFO of $7.4 million [$.63/share] - unchanged from Q2-06. Net income was $8.0 million [$.67/share] compared to $6.9 million [$.58/share] in Q2-06. Q2-07's income contained a gain of $2.3 million [$.19/share] realized on a sale of a medical office building and the recognition of a gain of $939,000 [$.08/share] related to the Chalmette Medical Center asset exchange and substitution transaction dated July 21, 2006. Favorably impacting Q2-06 net income was a deferred gain on the sale of real property of $1.9 million [$.16/share]. VTR Reports Normalized FFO of $0.70 vs. $0.68 in Q2-06 PRNewswire 7-24 UHT reported Normalized FFO of $82.056 million [$0.70/share] compared to $72.138 million [$0.68/share] in Q2-06. FFO in Q2-07 was $102.212 million [$0.87/share] compared to $77.924 million [$0.73/share] in Q2-06. (FFO that had not been normalized contained gains from currency hedges, deffered tax benefits and gains on the sale of securities.) FAD in Q2-07 was $76.553 million [$0.65/share] compared to $67.833 million [$0.64/share] in Q2-06. ADC Reports FFO of $0.62 vs. $0.59 in Q2-06 PRNewswire 8-02 ADC reported FFO of $5,165,000 [$0.62/share] compared to $4,953,000 [$0.59/share] in Q2-06. Net income was $3,603,000 [$0.47/share] compared with $3,462,000 [$0.45/share] in Q2-06. Small-cap ADC has a concentrated portfolio. ADC receives 32% of its base rents from Borders (18 properties); 23% from Walgreen (19 properties); and 12% from Kmart (12 properties). AFR Reports FFO of $0.01 vs. - $0.06 in Q2-06 PRNewswire 8-03 AFR reported FFO of $1.689 million [$0.01/share] compared to a loss of $8.152 million [$0.06/share] in Q2-06. Assets sold during Q2-07 resulted in a GAAP gain of $40.7 million, before minority interest. Impairment charges of $13.3 million were recognized for properties sold - huring FFO. Revenues from continuing operations were $100.7 million, excluding interest and other income, a decrease of $0.3 million compared with Q1-07. EPR Reports FFO of $0.99 vs. $0.97 in Q2-06 Businesswire 7-31 EPR reported FFO of $26.7 million [$0.99/share] compared to $25.9 million [$0.97/share] in Q2-06. Q2-07 FFO included a charge of $2.1 million ($0.08/share) as a result of the redemption of all Series A Preferred shares. Net income available to common shareholders increased was $20.9 million [$0.78/share] compared to $18.2 million [$0.68/share] in Q2-06. GTY Reports FFO of $0.46 vs. $0.51 in Q2-06 Business Wire 8-07 GTY reported FFO of $11.3 million [$0.46/share] compared to $12.7 million [$0.51/share] for Q2-06. AFFO was $9.9 million [$0.40/share] compared to $11.9 million [$0.48/share] for Q2-06. Net earnings were $10.0 million for the quarter ended June 30, 2007 and $11.1 million for the quarter ended June 30, 2006, a decrease of $1.1 million. Net earnings before discontinued operations were $8.9 million for Q2-07 and $11.1 million for Q2-06, a decrease of $2.2 million. Net earnings before discontinued operations include higher environmental, interest and depreciation and amortization expenses, which were partially offset by additional rental revenues from properties acquired and rent escalations. LSE Reports FFO of $0.22 vs. $0.23 in Q2-06 Business Wire 8-02 LSE reported Q2-07 FFO of $8.4 million [$0.22/share] compared to $7.2 million [$0.23/share] in Q2-06. Q2-07 results included about $0.06/share of a net charge for unusual items, including approximately $0.07/share of expenses associated with a bridge facility entered into in connection with the 18 property net lease portfolio (the EntreCap Portfolio), approximately $0.01/share of mark to market losses on securities investments, and approximately $0.02/share of non-cash gains associated with the retirement of debt LSE assumed in connection with the acquisition of EntreCap. Net (loss) to common stockholders for Q2-07 was $(4.0) million [$(0.10)/share] compared to $0.7 million [$0.02/share] in Q2-06. LSE has a market cap of $439.12 million and raised $104.8 million in equity in Q2-07 for its $364 million purchase of EntreCap. LXP Reports FFO of $0.54 vs. - $0.60 in Q2-06 PRNewswire 8-08 LXP reported FFO of $59.9 million [$0.54/share] compared to $38.2 million [$0.60/share] in Q2-06. Net income allocable to common shareholders was $21.9 million [$0.34/share] compared to $21.4 million [$0.41/share] for Q2-06. O Reports FFO of $0.49 vs. $0.43 in Q2-06 Business Wire 8-01 O reported FFO of $48.8 million [$0.49/share] compared to $37.6 million [$0.43/share] for Q2-06. FFO per diluted common share before Crest's [property sales] contribution increased 4.8% to $0.44 per share as compared to $0.42 per share for Q2-06. Net income available to common stockholders was $30.9 million [$0.31/share] compared to $24.3 million [$0.27/share] in Q2-06. OLP Reports FFO of $0.47 vs. $0.53 in Q2-06 Business Wire 8-08 OLP reported FFO of $4,716,000 [$.47/share] compared to $5,245,000 [$.53/share] for Q2-06. Rental income for Q2-07 was $9,642,000 and net income was $2,532,000 [$.25/share] compared to rental income of $8,562,000, and income of $3,192,000 [$.32/share] for Q2-06. Net income for Q2-07 includes equity in earnings of unconsolidated JVs of $149,000 [$.01/share] and interest and other income of $461,000 [$.05/share]. Net income for Q2-06 includes equity in earnings of unconsolidated JVs of $903,000 [$.09/share] and income from discontinued operations of $553,000 [$.06/share]. NNN Reports FFO of $0.47 vs. $0.42 in Q2-06 Businesswire 7-30 NNN reported FFO available to common shareholders of $31.481 million [$0.47/share] compared to $24.504 million [$0.42/share] in Q2-06. Net earnings available to common shareholders was $46.959 million [$0.70/share] compared to $79.199 [$1.37/share] in Q2-06. The Gain on disposition of real estate in Q2-07 was $22.646 million compared to $59.501 million in Q2-06. On 9-10 ADC declared a dividend of $0.49/share payable October 11, 2007 to shareholders of record at the close of business on September 28, 2007. On 9-11 OLP declared a dividend of $0.36/share and a special cash dividend of $0.67/share, both payable on October 2, 2007 to stockholders of record on September 24, 2007. On 9-12 LSE declared a dividend of $0.20/share payable on October 15, 2007 to stockholders of record as of September 28, 2007. On 7-02 UBS upgraded AFR to buy from neutral, citing valuation. The broker also told clients that discussions with management have improved its outlook for the company's dividend safety and growth profile. It said that plans in place to release the Harborside space, restructure the Dana portfolio and refinance the convertible bond in 2009 should allow the company to maintain its current dividend. Home Page Previous REIT Update Top Sites |