Search
 

Pan Pacific Reports Good Gains

SAN DIEGO-Brisk retail sales on West Coast push shopping center REIT's profit higher.

By David W. Myers | Updated on August 02, 2000

VISTA, CA-Pan Pacific Retail Properties Inc., the big shopping center REIT based in this San Diego County suburb, says strong retail sales at its West Coast properties pushed its second-quarter profits up sharply.

Second quarter total funds from operations rose 8.2% to $13.6 million, or 61 cents per fully diluted share, up from the year-earlier’s $12.6 million, or 57 cents per share. Net income rose to $8.4 million from $8.1 million, while revenue jumped 12.4% to $27.4 million from $24.3 million a year earlier.

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.