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Commercial Net Lease Realty in Top Health

ORLANDO-The locally based, 18-year-old retail and office REIT, headed by president and chief operating officer Gary M. Ralston, reports third-quarter funds from operations of $17 million, or 37 cents a share, compared to $14.5 million, or 36 cents per share, in the comparable 2002 period.

By Alex Finkelstein | Updated on November 10, 2003

ORLANDO-Shareholders in 18-year-old Commercial Net Lease Realty Inc. continue to receive good news as the locally based retail and office REIT chalks up strong third-quarter and nine-month results.

Funds from operations in the quarter that ended Sept. 30 were $17 million, or 37 cents a share, compared to $14.5 million, or 36 cents per share, in the comparable 2002 period. For the nine months, FFO was $45.7 million, or $1.08 per share, versus $43 million, or $1.06, for the same period last year.

Third-quarter net earnings totaled $14.4 million, or 32 cents per share, against $7.6 million, or 19 cents per share, in the 2002 period. For the nine months, net earnings were $34.8 million, or 83 cents per share, compared to $31.8 million, or 78 cents per share, last year.

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