DCT Industrial Trust Inc. ® (NYSE: DCT), a leading industrial real estate company, today announced financial results for the quarter ending September 30, 2013.
“We had a strong quarter across all aspects of our business. Operating performance is ahead of plan with nearly 93 percent occupancy and our market teams continue to source very attractive acquisition and development opportunities,” said Phil Hawkins, Chief Executive Officer of DCT Industrial. “We also successfully closed on the sale of our Mexico assets, allowing us to complete our exit from those markets and focus all our resources in the United States. We also sold all of our flex/high office finish assets in Dallas to continue upgrading the quality and consistency of our portfolio. In addition, we successfully executed our debut bond offering, further broadening our sources of capital and reinforcing the quality of our operating platform, property portfolio and balance sheet.”
Funds from Operations, as adjusted, attributable to common stockholders and unitholders (“FFO”) for Q3 2013 totaled $39.3 million, or $0.12 per diluted share, compared with $28.3 million, or $0.10 per diluted share, for Q3 2012. These results exclude $0.4 million and $0.2 million of acquisition costs for the quarters ending September 30, 2013 and 2012, respectively.
FFO, for the nine months ending September 30, 2013 totaled $106.2 million, or $0.34 per diluted share, compared with $85.1 million, or $0.31 per diluted share, for the first nine months of 2012. These results exclude $1.6 million and $1.0 million of acquisition costs for the nine months ending September 30, 2013 and 2012, respectively.Net loss attributable to common stockholders for Q3 2013 was $10.2 million, or $0.03 per diluted share, compared with net income attributable to common stockholders of $7.5 million, or $0.03 per diluted share, reported for Q3 2012. Net income attributable to common stockholders for the nine months ending September 30, 2013 was $1.9 million, or $0.00 per diluted share, compared with a net loss of $14.2 million, or $0.06 per diluted share, for the nine months ending September 30, 2012.
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