•Results in line with expectations; triple net leases generate predictable net operating income •AFFO per unit of
Summary of Results
Included 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.
Three months ended
Six months ended
Funds from operations (FFO)
Adjusted funds from operations (AFFO)
Distributions declared (1)
Weighted average units outstanding – basic (2)
Weighted average units outstanding – diluted (2)
Distributions per unit (1) (2)
FFO per unit (2)
AFFO per unit (2)
AFFO payout ratio (1)
Debt to total assets ratio
Includes distributions payable to holders of Class B LP Units which are accounted for as interest expense in the unaudited condensed consolidated interim financial statements.
Weighted average number of units includes the Class B LP Units and for
Three months ended
Six months ended
Net rental income
Net income for the six months ended
"We are pleased to see the positive impact of the RTL Westcan acquisition for a full quarter in line with expectations. On
Revenues and Results from Operations In Line with Expectations
Rental income increased to
Net rental income grew to
The REIT generated FFO and AFFO of
The REIT's AFFO payout ratio for the quarter was 78.7%.
The REIT's current distribution per unit continues to be
Balance Sheet and Liquidity
The REIT's debt to total assets ratio was 46.6% at
Accretive Growth Subsequent to Quarter End
In addition to increasing market capitalization by
The REIT will make a cash distribution in the amount of
The REIT will also make a cash distribution in the amount of
About the REIT
Edgefront REIT is a growth oriented real estate investment trust focused on increasing unitholder value through the acquisition, ownership and management of industrial properties located in primary and secondary markets in
The REIT has approximately 28,293,775 units issued and outstanding. Additionally, there are 360,000
FORWARD LOOKING STATEMENTS
Certain statements contained in this new release constitute forward-looking statements which reflect the REIT's current expectations and projections about future results. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the REIT to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Such forward-looking statements are based on a number of assumptions that may prove to be incorrect.
While the REIT anticipates that subsequent events and developments may cause its views to change, the REIT specifically disclaims any obligation to update these forward-looking statements except as required by applicable law. These forward-looking statements should not be relied upon as representing the REIT's views as of any date subsequent to the date of this news release. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The factors identified above are not intended to represent a complete list of the factors that could affect the REIT.