DALLAS-AmREIT's Q2 2013 earnings numbers showed somewhat of a mixed bag. Though same-store NOI had increased by 2.8% from the same period the year before, overall vacancy dropped 160 basis points to 95.1%, down from 96.7% recorded Dec. 31, 2012.

The retail REIT pointed out that the driver behind the occupancy decline was due to its acquisition of Fountain Oaks in Atlanta, GA (which was 89% occupied as of June 30, 2012) and a vacancy at Courtyard at Post Oak in Houston (which was 30% occupied at the end of June, 2013).

Other earnings information included:

Core funds from operations at $4.1 million ($0.25 per share), compared to $3.7 million ($0.32 per share) for the comparable period in 2012.
Net income available to common stockholders for Q2 2013 was $981,000 ($0.06 per share) versus $1.4 million ($0.12 per share) for the same period in 2012.
On June 21, 2013, the REIT filed a self registration statement with the Securities and Exchange Commission to register the offer and sale, from time to time, of up to $250 million of securities. The SEC declared the registration effective on July 1, 2013.
AmREIT adjusted its full-year guidance, which took into account the issuance of 3.45 million shares of common stock on July 19, 2013:

	Projected 2013 Range
	High	Low
Core FFO	$1.03	$0.98
FFO	$0.96	$0.91

Instant Insights /

AmREIT: NOI Increases, Occupancy Decreases

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