- Firm Capital Property Trust reports strong third quarter results, including a ninth distribution increase and a net asset value of $8.21 per unit
- Firm Capital’s Board of Trustees have approved a 2 per cent increase in its monthly distributions to $0.0433 per trust unit from $0.0425 starting in 2022
- This is Firm Capital’s ninth distribution increase and represents a cumulative increase of 48.6 per cent since the trust’s inception in 2012
- Firm Capital continues to focus its near-term acquisition efforts on the industrial and multi-residential sectors across Canada by reducing its exposure to its non-core retail assets
- Firm Capital Property Tryst (FCD.UN) is up 0.39 per cent and is trading at $7.77 per share at 3:02 p.m. ET
Firm Capital Property Trust has reported strong third-quarter results, including its ninth distribution increase and a net asset value of $8.21 per unit.
Firm Capital’s Board of Trustees has approved a 2 per cent increase in its monthly distributions to $0.0433 per trust unit from $0.0425 starting in 2022.
On an annualized basis this equates to annual distributions of $0.52, up from $0.51 per Unit.
This is Firm Capital’s ninth distribution increase and represents a cumulative increase of 48.6 per cent since the trust’s inception in 2012.
Firm Capital continues to focus its near-term acquisition efforts on the industrial and multi-residential sectors across Canada by reducing its exposure to its non-core retail assets.
The trust completed the sales of two retail properties from the Centre Ice Retail Portfolio during the quarter with gross proceeds of approximately $2.9 million.
Firm Capital has completed the sale of twelve retail properties from the Centre Ice Portfolio with gross proceeds of approximately $21.9 million for the first nine months of 2021.
In addition, the trust completed the sale of its 100 per cent wholly-owned commercial retail centre in Hanover, Ontario for gross proceeds of approximately $6.0 million.
A net asset value of $8.21 per unit, a 1 per cent increase in comparison to Q2 was reported.
Adjusted funds From Operations (AFFO) was approximately $4.3 million, which is a 21 per cent increase from last quarter.
Firm Capital Property Tryst (FCD.UN) is up 0.39 per cent and is trading at $7.77 per share at 3:02 p.m. ET.
