Business
Edgefront Real Estate Investment Trust Announces Continued Strong Results, an Increase to the Discount to Issuance Price Under the DRIP, the June Distribution, and a New Independent Trustee
CALGARY , May 25, 2015 /CNW/ - Edgefront Real Estate Investment Trust (the "REIT") (...
About this update from Nexus Industrial Reit
[{"type":"text","content":"\n\nCALGARY, May 25, 2015 /CNW/ - Edgefront Real Estate Investment Trust (the \"REIT\") (TSXV: ED.UN) announced today its results for the three months ended March 31, 2015, the June 2015 Distribution, an increase to the discount to issuance price under the DRIP, a new independent trustee and voting results from 2015 annual and special meeting.\n\nHighlights \n\n\nBrian Felesky, a seasoned board member, joins the REIT as an independent trustee; the Board is now comprised of a majority of independent members \nREIT completes its annual and special meeting; all resolutions passed; all nominated trustees elected \nDiscount to the issuance price under the DRIP increased from 3 percent to 4 percent \nREIT's rental revenues derived from stable, industry leading tenants with strong earnings \nConservative AFFO payout Ratio of 77.8% and debt to total assets ratio of 48.2% \nAFFO per unit of $0.051; distributions per unit of $0.04 for the quarter\n\nSummary of Results\n\nIncluded in the table that follows and elsewhere in this news release are non-IFRS measures that should not be construed as an alternative to net income / loss, cash from operating activities or other measures of financial performance calculated in accordance with IFRS, and may not be comparable to similar measures as reported by other issuers. Readers are encouraged to refer to the REIT's MD&A for further discussion of the non-IFRS measures presented. \n\n\n\n\n\nThree months ended\n\n March 31,\n\n\n\n\n2015\n\n\n2014\n\n\n\nFinancial Highlights\n\n\n$\n\n\n$\n\n\n\nFunds from operations (FFO)\n\n\n1,258,600\n\n\n637,694\n\n\n\nAdjusted funds from operations (AFFO)\n\n\n1,487,544\n\n\n785,640\n\n\n\nDistributions declared (1)\n\n\n1,157,839\n\n\n673,083\n\n\n\nWeighted average units outstanding – basic (2) \n\n\n28,910,053\n\n\n17,134,655\n\n\n\nWeighted average units outstanding – diluted (2) \n\n\n28,910,053\n\n\n17,134,655\n\n\n\n\n\n\n\nDistributions per unit (1) (2)\n\n\n0.040\n\n\n0.039\n\n\n\nFFO per unit (2)\n\n\n\n\n\n\nBasic\n\n\n0.044\n\n\n0.037\n\n\n\n\nDiluted\n\n\n0.044\n\n\n0.037\n\n\n\nAFFO per unit (2)\n\n\n\n\n\n\nBasic\n\n\n0.051\n\n\n0.046\n\n\n\n\nDiluted\n\n\n0.051\n\n\n0.046\n\n\n\nAFFO payout ratio (1)\n\n\n77.8%\n\n\n85.7%\n\n\n\nDebt to total assets ratio\n\n\n48.2%\n\n\n46.8%\n\n\n\n\n\n\n\n(1)\n\n\nIncludes distrib...