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Article: EXCEL ANNOUNCES THIRD QUARTER EARNINGS AND SIX SHOPPING CENTERS PLACED UNDER CONTRACT
- Article from:
- PR Newswire
- Article date:
- November 16, 1993
CopyrightCOPYRIGHT 1993 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SAN DIEGO, Nov. 16 /PRNewswire/ -- Excel Realty Trust Inc. (NYSE: XEL) announced total revenue for the quarter ended Sept. 30, 1993, of $6,018,455, up 318 percent from $1,438,103 reported for the same period last year. Net income for the quarter ended Sept. 30, 1993, was ($273,213) compared to $53,030 for the same quarter last year. The loss reflected a one-time expense for having purchased the former advisor contract.
Funds from operations, considered a basic measurement of operating performance for REITs, were $2,666,314 for the third quarter compared to $204,264 for the same period last year.
Revenues for the nine months ended Sept. 30, 1993, were up 217 percent ...