Mid-Atlantic Realty Trust posts operating gains of 33%

November 15, 1994|By a Sun Staff Writer

Mid-Atlantic Realty Trust said yesterday that it recorded a 33 percent gain in its third-quarter operational income.

MART, a Linthicum-based real estate investment trust (REIT), reported funds from operations -- a key gauge of a REIT's performance -- of $1.5 million, or 24 cents a share, for the period ended Sept. 30, compared with pro forma results of $1.15 million, or 18 cents a share, for the same period last year.

Revenue for the three months increased to $5.4 million from $4.8 million in the comparable 1993 quarter.

For the nine months, MART reported a 17 percent increase in funds from operations to $5.1 million, or 82 cents a share.

MART's results for last year were stated pro forma because the company completed its $96 million initial public offering in September 1993, and folded the assets of BTR Realty Inc. into its operation.

For the third quarter, net earnings were $317,000, reversing a loss of $58,000 incurred the year before.

|

|

|

Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.

Mid-Atlantic Realty Trust posts operating gains of 33%

Charles Kuralt's other life Scandal: The late CBS newsman had a wife in New York and, secretly, a longtime companion in Montana. The two have now met, in court.

Wake is held for LSU student after fraternity drinking binge University has tightened campus liquor regulations

Trying to clarify convection settings

Dolphins' Baty and wife living on time borrowed from stalker

Are you setting S.M.A.R.T. goals?

Civil War wasn't to end slavery Purposes: The South fought to defend slavery. The North's focus was not to end slavery but to preserve the union. The slavery apology debate misses these facts.