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American Spectrum Realty FY11 FFO Rises

American Spectrum Realty Inc. (AQQ), 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

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