Declares First Quarter 2013 Cash Dividend Reports Fourth Quarter Investments of $144.5 Million
BOSTON, March 7, 2013 (GLOBE NEWSWIRE) -- Winthrop Realty Trust (NYSE:FUR), a leading real estate value investor, announced today financial and operating results for the fourth quarter and full year ended December 31, 2012. All per share amounts are on a fully diluted basis.
Financial ResultsYear Ended December 31, 2012 Net income applicable to common shares for the year ended December 31, 2012 was $15.3 million or $0.46 per common share as compared with net income of $10.0 million or $0.32 per common share for the year ended December 31, 2011. For the year ended December 31, 2012, Winthrop reported FFO applicable to common shares of $46.2 million or $1.40 per common share as compared with FFO of $58.2 million or $1.85 per common share for the year ended December 31, 2011. Three Months Ended December 31, 2012 Net loss applicable to common shares for the quarter ended December 31, 2012 was ($4.9) million or ($0.15) per common share as compared with net loss of ($10.6) million or ($0.32) per common share for the quarter ended December 31, 2011. For the quarter ended December 31, 2012, Winthrop reported FFO applicable to common shares of $4.7 million or $0.14 per common share as compared with FFO of $16.2 million or $0.49 per common share for the quarter ended December 31, 2011. Carolyn B. Tiffany, Winthrop's President, commented, "2012 was both a pivotal and successful year for Winthrop. We invested $295 million in new investments, negotiated long term leases at two of our large single tenant properties, leased up properties that had been acquired with significant vacancy and harvested value through the sale of certain assets. We look forward to 2013 as we continue to realize gains through select asset sales and redeploy that capital, along with $97 million in existing cash reserves, to new investment opportunities which we expect will continue through 2013."
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