logo
Share SHARE
FONT-SIZE Plus   Neg

American Spectrum Realty FY11 FFO Rises

American Spectrum Realty Inc. (AQQ: Quote), a real estate investment, management and leasing company, Friday reported full-year 2011 net income attributable to common stockholders of $3.8 million or $1.32 per share, compared to $8.3 million or $2.76 per share last year.

Full-year 2011 net income included income from discontinued operations of $17.3 million, compared to a loss from discontinued operations of $0.8 million last year.

Funds from operations, or FFO, for the year was $2.1 million compared to a negative FFO of $4.1 million last year. The increase due mainly to a gain recognized on litigation settlement.

Total revenues grew to $69.4 million from $49.2 million last year.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Deutsche Bank (DB) on Sunday reported an about 50 percent decline in first-quarter profit, despite clocking double-digit revenue growth, as the German lender recorded hefty legal charges over allegations of rate-rigging. Casino operator Wynn Resorts said its shareholders ousted Elaine Wynn from the board, reflecting fears that her presence may lead to disharmony with the management. To commemorate the launch of Hubble telescope twenty-five year ago, NASA unveiled celestial fireworks as official image, marked by brilliant tapestry of young stars flaring to life.
comments powered by Disqus
Follow RTT