Edgefront Real Estate Investment Trust Announces Q2 2014 Results and August and September 2014 Distributions

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[{"type":"text","content":"\n\nTORONTO and CALGARY, Aug. 21, 2014 /CNW/ - Edgefront Real Estate Investment Trust (the \"REIT\") (TSXV: ED.UN) announced today its results for the three and six months ending June 30, 2014.\n\nHighlights \n\n\nResults in line with expectations; triple net leases generate predictable net operating income \nAFFO per unit of $0.051 for the three months ended June 30, 2014 \nAFFO payout Ratio of 78.7% \nConservative debt to total assets ratio of 46.6% \nSubsequent to quarter end, completed $36,744,000 accretive acquisition; closed offering issuing 8,750,000 units from treasury for gross proceeds to the REIT of $17,500,000; closed secondary offering by exercise in full of the underwriters' overallotment option of 875,000 units\nSummary of Results\n\nIncluded in the table that follows and elsewhere in this news release are non-IFRS measures that should not be construed as an alternative to net income / loss, cash from operating activities or other measures of financial performance calculated in accordance with IFRS, and may not be comparable to similar measures as reported by other issuers. Readers are encouraged to refer to the REIT's MD&A for further discussion of the non-IFRS measures presented.  \n\n\n\n\n\n\n\n\n\nThree months ended June 30,\n\n\nSix months ended June 30,\n\n\n\n\n2014\n\n\n2013\n\n\n2014\n\n\n2013\n\n\n\nFinancial Highlights\n\n\n$\n\n\n$\n\n\n$\n\n\n$\n\n\n\nFunds from operations (FFO)\n\n\n839,761\n\n\n(557,710)\n\n\n1,477,455\n\n\n(570,214)\n\n\n\nAdjusted funds from operations (AFFO)\n\n\n1,007,831\n\n\n(585,574)\n\n\n1,793,471\n\n\n(569,593)\n\n\n\nDistributions declared (1)\n\n\n792,763\n\n\n-\n\n\n1,465,846\n\n\n-\n\n\n\nWeighted average units outstanding – basic (2) \n\n\n19,810,711\n\n\n2,750,000\n\n\n18,559,549\n\n\n2,750,000\n\n\n\nWeighted average units outstanding – diluted (2) \n\n\n19,827,219\n\n\n2,750,000\n\n\n18,559,549\n\n\n2,750,000\n\n\n\nDistributions per unit (1) (2)\n\n\n0.040\n\n\nN/A\n\n\n0.079\n\n\nN/A\n\n\n\nFFO per unit (2)\n\n\n\n\n\n\n\n\nBasic\n\n\n\n\n\n0.042\n\n\n(0.203)\n\n\n0.080\n\n\n(0.207)\n\n\n\n\nDiluted\n\n\n0.042\n\n\n(0.203)\n\n\n0.080\n\n\n(0.207)\n\n\n\nAFFO per unit (2)\n\n\n\n\n\n\n\n\nBasic\n\n\n0.051\n\n\n(0.213)\n\n\n0.097\n\n\n(0.207)\n\n\n\n\nDiluted\n\n\n0.051\n\n\n(0.213)\n\n\n0.097\n\n\n(0.207)\n\n\n\nAFFO payout ratio (1)\n\n\n78...

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