X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NORTH MIAMI BEACH, FL-Equity One Inc. is attributing its second-quarter earnings spurt to an 11.7% increase in same property net operating income, and an increase in overall property occupancy to 95.5% from 95.3%.

The North Miami Beach-based real estate investment trust met a market forecast of 34 cents per diluted share as tracked by Thompson/First Call.

The REIT reported funds from operation of $4.5 million or 34 cents per diluted share on total revenue of $9.9 million for the three months ended June 30, compared with FFO of $3.8 million, or 33 cents per diluted share, on total revenue of $8 million for the same period in 2000.

Net income for the quarter totaled $3.2 million, or 24 cents per diluted share, up from $2.8 million, or 24 cents a share, for the same period in 2000.

News of the earnings growth comes as the company’s board of directors prepares to vote on whether to close on the acquisitions of Toronto-based Centrefund Realty (U.S.) Corp. and Houston-based United Investors Realty Trust.

The REIT also reported FFO of $8.9 million, or 67 cents per diluted share, on total revenue of $19.8 million for the six months ended June 30, compared with FFO of $7.5 million, or 64 cents per diluted share, on total revenue of $16.1 million for the same period in 2000.

Net income for the six months totaled $6.2 million, or 48 cents per diluted share, up from $5.4 million, or 47 cents a share, for the same period in 2000.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Awards 2020Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information
 

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 © 2020 ALM Media Properties, LLC. All Rights Reserved.