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07.02.2018 22:25
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Monmouth Real Estate Reports Results For The First Quarter Ended December 31, 2017
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PR Newswire
FREEHOLD, N.J., Feb. 7, 2018
FREEHOLD, N.J., Feb. 7, 2018 /PRNewswire/ -- Monmouth Real Estate Investment Corporation (NYSE: MNR) reported Net Income Attributable to Common Shareholders of $13,313,000 or $0.17 per diluted share for the three months ended December 31, 2017 as compared to $6,156,000 or $0.09 per diluted share for the three months ended December 31, 2016 representing an increase per share of 89%. Approximately $0.07 of the $0.08 per share increase is due to the $5,388,000 realized gain on the sale of two real estate properties sold during the current year quarter. Core Funds from Operations (Core FFO) were $16,934,000 or $0.22 per diluted share for the three months ended December 31, 2017 as compared to $13,857,000 or $0.20 per diluted share for the three months ended December 31, 2016 representing an increase in Core FFO per share of 10%. Adjusted Funds from Operations (AFFO), for the three months ended December 31, 2017 were $16,472,000 or $0.22 per diluted share versus $12,939,000 or $0.19 per diluted share for the three months ended December 31, 2016 representing an increase in AFFO per share of 16%.
A summary of significant financial information for the three months ended December 31, 2017 and 2016 is as follows:
| | | Three Months Ended December 31, | ||
| | | 2017 | | 2016 |
| Rental Revenue | $ | 27,692,000 | $ | 23,281,000 |
| Reimbursement Revenue | $ | 5,049,000 | $ | 3,901,000 |
| Lease Termination Income | $ | 210,000 | $ | -0- |
| Net Operating Income (NOI) (1) | $ | 27,443,000 | $ | 22,980,000 |
| Total Expenses | $ | 16,268,000 | $ | 13,263,000 |
| Dividend and Interest Income | $ | 2,864,000 | $ | 1,292,000 |
| Gain on Sale of Securities Transactions | $ | 100,000 | $ | 806,000 |
| Gain on Sale of Real Estate Investments | $ | 5,388,000 | $ | -0- |
| Net Income | $ | 17,630,000 | $ | 9,854,000 |
| Net Income Attributable to Common Shareholders | $ | 13,313,000 | $ | 6,156,000 |
| Net Income Attributable to Common Shareholders Per Diluted Common Share | $ | 0.17 | $ | 0.09 |
| Core FFO (1) | $ | 16,934,000 | $ | 13,857,000 |
| Core FFO per Diluted Common Share (1) | $ | 0.22 | $ | 0.20 |
| AFFO (1) | $ | 16,472,000 | $ | 12,939,000 |
| AFFO per Diluted Common Share (1) | $ | 0.22 | $ | 0.19 |
| Dividends Declared per Common Share | $ | 0.17 | $ | 0.16 |
| | | | | |
| Weighted Avg. Diluted Common Shares Outstanding | | 76,587,000 | | 69,830,000 |
A summary of significant balance sheet information as of December 31, 2017 and September 30, 2017 is as follows:
| | | December 31, 2017 | | September 30, 2017 |
| Net Real Estate Investments | $ | 1,304,547,000 | $ | 1,260,856,000 |
| Securities Available for Sale at Fair Value Werbung Mehr Nachrichten zur Monmouth Real Estate Investment Corporation Aktie kostenlos abonnieren
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