News Column

Spirit Realty Capital Announces Second Quarter 2014 Operating Results and Improves 2014 Guidance

August 22, 2014

By a News Reporter-Staff News Editor at Real Estate Weekly News -- Spirit Realty Capital, Inc. (NYSE:SRC), a real estate investment trust that invests in single-tenant, operationally essential real estate, announced operating results for the second quarter ended June 30, 2014, and improved its 2014 Adjusted Funds from Operations (AFFO) guidance. Highlights For the second quarter ended June 30, 2014, Spirit Realty Capital: Recognized revenues of $151.8 million, more than double the revenues reported in the second quarter of 2013 largely due to the merger with Cole Credit Property Trust II, Inc. (Cole II) completed on July 17, 2013.

Generated AFFO of $0.20 per share, Funds from Operations (FFO) of less than $0.01 per share, and net loss of $(0.24) per share.

Improved 2014 AFFO guidance to range between $0.80 to $0.83 per share.

Closed 24 real estate transactions and invested $207.7 million (including $1.2 million follow on investments in existing properties) which added 86 properties to its portfolio, earning an initial cash yield of approximately 7.72% under leases with an average remaining term of 18.0 years.

Maintained essentially full occupancy at 99%.

Keywords for this news article include: Real Estate, Spirit Realty Capital Inc.

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Source: Real Estate Weekly News

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