Third-quarter total revenue, funds from operations and FFO per share were $21 million, $7.4 million and 34 cents per share, increasing 54.6%, 55.9% and 9.7% respectively.
That performance compares with $13 million, $4.7 million and 31 cents per share in the comparable 2000 period.
For the nine months ended Sept. 30, total revenue, FFO and FFO per share were $58.3 million, $20.7 million and 99 cents per share, increasing 100.7%, 69.8% and 4.2% respectively.
In third quarter 2000, the retail REIT posted revenue of $29.1 million, FFO of $12.2 million and FFO per share of 95 cents.
"By closing the CEFUS and UIRT transactions, we have almost tripled the size of our company to $670 million of total assets and 84 properties," Equity One's chairman/CEO Chaim Katzman says in a prepared statement."
The REIT now has $340 million of equity market capitalization and a 50.7% debt to total market capitalization ratio. "Our company is more economically diverse with our top 10 tenants accounting for only 21% of our annual minimum rent," Katzman says.
Equity One's properties are concentrated in Florida and Texas. The two recent acquisitions give the REIT 1.2 million sf of vacant space to lease.
Katzman calls that situation an "opportunity for significant growth in future periods."
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.