DCT Industrial Trust Inc.® Reports Third Quarter And Year-to-Date 2012 Results

DCT Industrial Trust Inc. ® (NYSE: DCT), a leading industrial real estate company, today announced financial results for the quarter ending September 30, 2012.

“We continue to make great progress towards our strategic, operating and financial goals,” said Phil Hawkins, President and Chief Executive Officer of DCT Industrial. “Consolidated operating occupancy increased 150 basis-points; we acquired eight buildings totaling $41.3 million and two development sites which will support 1.6 million square feet; and we sold 16 buildings, totaling 1.6 million square feet, further upgrading the quality of our portfolio.”

Funds from Operations (“FFO”), as adjusted, attributable to common stockholders and unitholders for the third quarter of 2012 totaled $28.3 million, or $0.10 per diluted share, compared with $26.5 million, or $0.10 per diluted share, for the third quarter of 2011. These results exclude $0.2 million and $0.3 million of acquisition costs for the quarters ending September 30, 2012 and 2011, respectively.

FFO, as adjusted, attributable to common stockholders and unitholders for the nine months ending September 30, 2012 totaled $85.1 million, or $0.31 per diluted share, compared with $76.7 million, or $0.29 per diluted share, for the first nine months of 2011. These results exclude $1.0 million and $1.4 million of acquisition costs for the nine months ending September 30, 2012 and 2011, respectively.

Net income attributable to common stockholders for the third quarter of 2012 was $7.5 million, or $0.03 per diluted share, compared with a net loss attributable to common stockholders of $8.1 million, or $0.03 per diluted share, reported for the third quarter of 2011. Net loss attributable to common stockholders for the nine months ending September 30, 2012 was $14.2 million, or $0.06 per diluted share, compared with a net loss of $25.1 million, or $0.11 per diluted share, for the nine months ending September 30, 2011.

If you liked this article you might like

Amazon Stock Has Been 'Left on The Table' by Trump Rally: More Squawk From Jim Cramer

Jim Cramer's 'Mad Money' Recap: Oil Rally, China Issues Are Becoming Risk Factors

Trade These 4 Breakout Stocks

DCT Industrial (DCT) Is Today's Strong And Under The Radar Stock

Strong And Under The Radar: DCT Industrial (DCT)