- Funds From Operations (FFO) per common share was $0.27 for the second quarter of 2012 compared to $0.06 for the second quarter of 2011; FFO adjusted for non-cash items per common share was $0.22 for the quarter, compared to FFO adjusted per share of $0.20 for the prior year quarter.
- Consolidated same store net operating income (NOI) rose for the sixth consecutive quarter, increasing 4.2 percent for the three months ended June 30, 2012 over the second quarter of 2011; consolidated same store NOI increased 4.7 percent for the six months ended June 30, 2012 over the same period last year.
- Same store financial occupancy was 90.1 percent for the total portfolio and 88.4 percent for the consolidated portfolio, representing increases of 150 basis points and 120 basis points, respectively, over occupancy rates one year ago.
- Company increased average base rent for new and renewal leases signed in the total portfolio by 5.2 percent and 8.2 percent, respectively, over expiring average rents for the quarter.
- Company executed 112 leases within the total portfolio for 378,083 square feet for the quarter, representing an increase in leases signed of approximately 30 percent over the second quarter of 2011. A total of 105 leases were signed with non-anchor tenants, representing an increase of 34 percent in lease executions with non-anchors over the trailing four quarter average, and comprising over 74 percent of total square feet leased for the quarter.
- Joint venture agreement with New York State Teachers’ Retirement System (NYSTRS) extended to June 2022.
Inland Real Estate Corporation Reports Second Quarter 2012 Results
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