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Profit Up, FFO Down at Commercial Net Lease

ORLANDO-The locally based retail REIT posted first-quarter net earnings of $11.6 million or 38 cents per share compared to $8.6 million or 28 cents per share in the comparable 2000 period. FFO of $10.9 million or 36 cents per share, however, was down from $11.2 million or 37 cents a share in the same period last year.

By Alex Finkelstein | Updated on May 03, 2001

ORLANDO-Average occupancy levels of 99% among 57 tenants leasing 6.2 million sf at 258 properties in 36 states helped locally based Commercial Net Lease Realty Inc. earn a first-quarter profit of $11.6 million or 38 cents per share.

That compared to $8.6 million or 28 cents per share in the comparable 2000 period.

Funds from operations were down, however. FFO of $10.9 million or 36 cents per share compared to $11.2 million or 37 cents per share in the same period last year. The stock is trading on the New York Stock Exchange at $12.34 per share.

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