Cold weather, move-out of sizable tenant hit Investors Real Estate results

FQ4 FFO of $17.6M and $0.14 per share fell from $22.1M and $0.19 per share one year ago. Same-store NOI fell $3.2M, with $1.1M of that from an increase in utility expense due to extreme cold weather across all markets (quarter ended on April 30).

Multi-family segment same-store occupancy of 94.5% falls from 95.3%; commercial office about flat at 81.4%; commercial healthcare of 96.2% up from 94.9%; commercial industrial of 87.3% down from 95.7% (due to a single lease expiration); commercial retail of 87.3% up from 86.9%.

IRET -3.3%

Previously: Investors Real Estate Trust misses by $0.03, misses on revenue

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs