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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Firm Capital Apartment Real Estate Investment Trust | TSXV:FCA.U | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 3.95 | 3.80 | 3.95 | 0 | 01:00:00 |
TORONTO, Aug. 11, 2020 /CNW/ - Firm Capital American Realty Partners Trust ("the "Trust"), (TSXV: FCA.U) (TSXV: FCA.UN) is pleased to report its financial results for the three and six months ended June 30, 2020 as well as other various trust matters:
Three Months Ended | Six Months Ended | ||||||||||||
June 30, | March 31, | June 30, | June 30, | June 30, | |||||||||
Net Income | $ | 1,404,620 | $ | 1,111,310 | $ | 1,372,969 | $ | 2,515,932 | $ | 3,117,165 | |||
FFO | $ | 1,630,223 | $ | 1,918,861 | $ | 510,278 | $ | 3,549,089 | $ | 947,074 | |||
AFFO | $ | 465,085 | $ | 480,775 | $ | 498,203 | $ | 948,529 | $ | 999,156 | |||
Distributions | $ | 498,265 | $ | 503,151 | $ | 409,183 | $ | 1,001,416 | $ | 818,366 | |||
FFO Per Unit | $ | 0.19 | $ | 0.26 | $ | 0.07 | $ | 0.49 | $ | 0.14 | |||
AFFO Per Unit | $ | 0.06 | $ | 0.07 | $ | 0.07 | $ | 0.13 | $ | 0.14 | |||
Distributions Per Unit | $ | 0.06 | $ | 0.06 | $ | 0.06 | $ | 0.14 | $ | 0.13 |
Rent Collections | ||||||||
April 2020 | May 2020 | June 2020 | July 2020 | Weighted | ||||
Texas | 96% | 95% | 97% | 92% | 96% | |||
Georgia | 98% | 95% | 97% | 95% | 96% | |||
Maryland | 95% | 92% | 93% | 99% | 95% | |||
New Jersey | 94% | 94% | 94% | 98% | 95% | |||
Connecticut | 92% | 91% | 94% | 86% | 91% | |||
Florida | 97% | 84% | 85% | 82% | 87% | |||
New York | 87% | 78% | 84% | 77% | 82% | |||
Weighted Average | 93% | 90% | 92% | 89% | 91% |
For the complete financial statements including Management's Discussion & Analysis, please visit www.sedar.com or the Trust's website at www.firmcapital.com
ABOUT FIRM CAPITAL AMERICAN REALTY PARTNERS TRUST
Firm Capital American Realty Partners Trust is a U.S. focused real estate investment that pursues multi-residential income producing real estate and related debt investments on both a wholly owned and joint venture basis. The Trust currently has ownership interests in a total of 2,073 apartment units diversely located in Florida, Connecticut, Texas, New York, New Jersey, Georgia and Maryland.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain information in this news release constitutes forward-looking statements under applicable securities law. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "intend" and similar expressions.
Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse factors affecting the U.S. real estate market generally or those specific markets in which the Trust holds properties; volatility of real estate prices; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; industry and government regulation; changes in legislation, income tax and regulatory matters; the ability of the Trust to implement its business strategies; competition; currency and interest rate fluctuations and other risks. Additional risk factors that may impact the Trust or cause actual results and performance to differ from the forward looking statements contained herein are set forth in the Trust's Annual Information form under the heading Risk Factors (a copy of which can be obtained under the Trust's profile on www.sedar.com).
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Except as required by applicable law, the Trust undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Certain financial information presented in this press release reflect certain non-International Financial Reporting Standards ("IFRS") financial measures, which include, but not limited to NOI, FFO and AFFO. These measures are commonly used by real estate investment companies as useful metrics for measuring performance, however, they do not have standardized meaning prescribed by IFRS and are not necessarily comparable to similar measures presented by other real estate investment companies. These terms are defined in the Trust's Management Discussion and Analysis for the three and six months ended June 30, 2020 filed on www.sedar.com.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Firm Capital American Realty Partners Trust
Copyright 2020 Canada NewsWire
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