H&R Reports Solid Q2 Results and Increases Monthly Distributions

About this update from H&r Real Estate Investment Trust

[{"type":"text","content":"\n\n\n\n\n\nTORONTO, Aug. 11, 2011 /CNW/ - HR Real Estate Investment Trust (\"HR\n REIT\") and HR Finance Trust (collectively, \"HR\") (TSX: HR.UN; HR.DB;\n HR.DB.B; HR.DB.C; HR.DB.D) announced its financial results for the\n second quarter ended June 30, 2011.\n\n\nFinancial Highlights\nThe following table includes non-International Financial Reporting\n Standards (\"IFRS\") information that should not be construed as an\n alternative to comprehensive income (loss) or cash provided by\n operations and may not be comparable to similar measures presented by\n other issuers as there is no standardized meaning of funds from\n operations (\"FFO\"), and adjusted funds from operations (\"AFFO\") under\n IFRS.  Management believes that these are meaningful measures of\n operating performance.  Readers are encouraged to refer to HR's\n combined MDA for further discussion of non-IFRS information presented.\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n3 months ended June 30\n\n\n  6 months ended June 30\n\n\n2011\n\n\n2010\n\n\n2011\n\n\n2010\n\n\nRentals from investment properties (millions)\n\n\n$155.9\n\n\n$151.4\n\n\n$309.2\n\n\n$303.9\n\n\nNet income (loss)\n\n\n$9.1\n\n\n$505.2\n\n\n($22.2)\n\n\n$448.1\n\n\nFFO (millions) (1)\n\n$58.2\n\n\n$61.2\n\n\n$133.9\n\n\n$79.0\n\n\nFFO per Stapled Unit (basic)\n\n\n$0.37\n\n\n$0.41\n\n\n$0.87\n\n\n$0.53\n\n\nAFFO (millions) (1)\n\n$57.8\n\n\n$55.8\n\n\n$114.4\n\n\n$106.8\n\n\nAFFO per Stapled Unit (basic)\n\n\n$0.37\n\n\n$0.37\n\n\n$0.74\n\n\n$0.72\n\n\nCash provided by operations (millions)\n\n\n$101.8\n\n\n$95.5\n\n\n$196.4\n\n\n$192.0\n\n\nCash distributions paid (millions) (2)\n\n$29.2\n\n\n$23.4\n\n\n$56.6\n\n\n$48.1\n\n\nDistributions per Stapled Unit\n\n\n$0.24\n\n\n$0.18\n\n\n$0.46\n\n\n$0.36\n\n\n(1)     \n\n\nHR's MDA includes reconciliations of: net earnings to FFO; FFO to\n AFFO; and AFFO to cash provided by operations.  Readers are encouraged\n to review such reconciliations in the MDA.\n\n\n(2)     \n\n\nCash distributions paid exclude distributions made by way of issuing\n further units and include the distributions paid to the Class B Limited\n Partnership unitholders who can exchange their units for Stapled Units.\n\n\nIncluded in FFO and AFFO were lease terminations an...

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