This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Excel Trust Announces Results For The Quarter Ended June 30, 2012, Declares Dividend

Excel Trust, Inc. (NYSE:EXL) announced today financial and operating results for the quarter ended June 30, 2012. A supplemental financial package with additional information can be found on Excel Trust's website under the Investor Relations tab.

Highlights for the Second Quarter 2012

  • Reported Adjusted Funds from Operations (AFFO) for the quarter of $6.5 million, or $0.19 per diluted share
  • Reported Funds from Operations (FFO) for the quarter of $6.0 million, or $0.17 per diluted share
  • Declared a third quarter 2012 dividend of $0.1625 per share, which equates to an annualized rate of $0.65 per share
  • Acquired Lake Pleasant Pavilion for approximately $41.8 million on May 16, 2012
  • Increased unsecured credit facility to $250 million and improved terms

"We had a successful quarter as we added another quality property to our portfolio and improved our credit facility, which was amended in July,” commented Gary Sabin, Excel Trust's CEO. He went on to say, "We are very optimistic about the 2 nd half of the year as we continue to execute our strategy of acquiring high quality properties in strong markets."

Excel Trust reported Adjusted Funds From Operations (AFFO) for the second quarter of $6.5 million, or $0.19 per diluted share. Excel Trust reported Funds From Operations (FFO) for the three-month period ended June 30, 2012 of $6.0 million, or $0.17 per diluted share. Net loss attributable to the common stockholders was ($2.4 million), or ($0.08) per diluted share. This compares to AFFO of $4.4 million, or $0.24 per diluted share, FFO of $3.7 million or $0.20 per diluted share and net income of $1.1 million, or $0.06 per diluted share in the three-month period ended June 30, 2011.

Excel Trust reported AFFO for the six months ended June 30, 2012 of $12.9 million, or $0.37 per diluted share and FFO of $12.5 million, or $0.36 per diluted share. Net loss attributable to the common stockholders for the six months ended June 30, 2012 was ($4.1 million), or ($0.14) per diluted share. This compares to AFFO of $7.6 million, or $0.43 per diluted share, FFO of $6.5 million or $0.37 per diluted share and net income of $0.4 million, or $0.01 per diluted share in the six-month period ended June 30, 2011.

1 of 7

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,912.11 -70.48 -0.42%
S&P 500 1,969.95 -8.96 -0.45%
NASDAQ 4,442.6980 -2.2110 -0.05%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs