This Day On The Street
Continue to site
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

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

Excel Trust, Inc. (the "Company") announced today financial and operating results for the quarter ended September 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 Third Quarter 2012
  • Reported Adjusted Funds from Operations (AFFO) for the quarter of $7.3 million, or $0.21 per diluted share
  • Reported Funds from Operations (FFO) for the quarter of $0.20 per diluted share before transaction related costs of $0.02 per diluted share. Including transaction costs, FFO was $6.2 million, or $0.18 cents per diluted share.
  • Declared a fourth quarter 2012 dividend of $0.1625 per share, which equates to an annualized dividend rate of $0.65 per share
  • Acquired Chimney Rock Shopping Center for approximately $23.8 million
  • Entered into joint venture partnership for the La Costa Town Center with GEM Realty Capital, Inc.
  • Increased unsecured credit facility to $250 million and improved terms

Subsequent Events
  • Acquired Pavilion Crossing for approximately $13.1 million
  • Acquired Florida/Virginia portfolio for approximately $262.8 million
  • Completed a public offering of 9,775,000 shares of common at $12.00 per share, resulting in net proceeds of approximately $113.1 million

“The progress we made in the third quarter will benefit the company for years to come,” noted Gary Sabin, Chairman and CEO of Excel Trust. “We successfully added another quality property in Texas to our portfolio and put the finishing touches on our $263 million portfolio acquisition, which ultimately closed in October. We have now acquired over $1.1 billion in quality assets since our 2010 IPO and have significantly strengthened our balance sheet.”

Excel Trust reported Adjusted Funds From Operations (AFFO) for the third quarter of $7.3 million, or $0.21 per diluted share. Excel Trust reported Funds From Operations (FFO) for the three-month period ended September 30, 2012 of $6.2 million, or $0.18 per diluted share, which includes a deduction for transaction related costs of $0.02 cents. Net loss attributable to the common stockholders for the three-month period ended September 30, 2012 was $2.2 million, or $0.07 per diluted share. This compares to AFFO of $5.3 million, or $0.17 per diluted share, FFO of $3.6 million or $0.11 per diluted share and net loss attributable to the common stockholders of $2.6 million, or $0.09 per diluted share in the three-month period ended September 30, 2011.

1 of 8

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.85 -0.45%
FB $101.65 0.64%
GOOG $680.11 -0.59%
TSLA $153.90 7.10%
YHOO $26.68 -1.50%


Chart of I:DJI
DOW 15,653.99 -260.75 -1.64%
S&P 500 1,823.07 -28.79 -1.55%
NASDAQ 4,244.7210 -38.8710 -0.91%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs