H&R Reports Solid Q3 Results and Increases Distributions for the 8th Consecutive Quarter

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[{"type":"text","content":"\n\n\n\n\n\nTORONTO, Nov. 14, 2011 /CNW/ - H&R Real Estate Investment Trust (\"H&R\n REIT\") and H&R Finance Trust (collectively, \"H&R\") (TSX: HR.UN; HR.DB;\n HR.DB.B; HR.DB.C; HR.DB.D) announced its financial results for the\n third quarter ended September 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 H&R's\n combined MD&A 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\n \n\n\n \n\n\n3 months ended September 30\n\n\n9 months ended September 30\n\n\n \n\n\n2011\n\n\n2010\n\n\n2011\n\n\n2010\n\n\n \n\n\nRentals from investment properties (millions)\n\n\n$169.6\n\n\n$152.8\n\n\n$478.7\n\n\n$456.7\n\n\n \n\n\nNet income (loss)\n\n\n$58.3\n\n\n($12.1)\n\n\n$36.1\n\n\n$436.0\n\n\n \n\n\nFFO (millions) (1)\n\n$70.2\n\n\n$74.2\n\n\n$204.1\n\n\n$153.3\n\n\n \n\n\nFFO per Stapled Unit (basic)\n\n\n$0.43\n\n\n$0.50\n\n\n$1.30\n\n\n$1.03\n\n\n \n\n\nAFFO (millions) (1)\n\n$62.9\n\n\n$55.2\n\n\n$177.3\n\n\n$162.0\n\n\n \n\n\nAFFO per Stapled Unit (basic)\n\n\n$0.39\n\n\n$0.37\n\n\n$1.13\n\n\n$1.08\n\n\n \n\n\nCash provided by operations (millions)\n\n\n$104.1\n\n\n$82.7\n\n\n$300.5\n\n\n$274.7\n\n\n \n\n\nCash distributions paid (millions) (2)\n\n$31.1\n\n\n$27.1\n\n\n$87.8\n\n\n$75.2\n\n\n \n\n\nDistributions per Stapled Unit\n\n\n$0.25\n\n\n$0.21\n\n\n$0.71\n\n\n$0.57\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n(1)     \n\n\nH&R's MD&A 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 MD&A.\n\n\n(2)     \n\n\nCash dist...

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