Mid-Atlantic Realty Trust's earnings jumped 70 percent to $6.1 million in the second quarter of this year, compared to the year-ago period, a surge the Lutherville real estate investment trust attributed to the acquisition of 11 shopping centers in July 1997 and three other recent property additions.
MART said gains from the $129 million portfolio acquisition from the Pechter Group were offset by sales of three Arizona retail hubs and the company's 34-acre Gateway International office complex.
On a per-share basis, MART reported earnings of 32 cents per share. The REIT's revenue in the quarter ended June 30 rose nearly 50 percent, compared to the year-ago period, to $12.3 million.