(Source: PRNewswire-FirstCall)
FREEHOLD, N.J., Aug. 6 /PRNewswire-FirstCall/ -- Monmouth Real Estate Investment Corporation (the Company) reported funds from operations (FFO), excluding the non-cash impairment charges and other losses on REIT securities, were $11,891,000 or $.48 per share for the nine months ended June 30, 2009, as compared to $10,442,000 or $.43 per share for the nine months ended June 30, 2008. Net income applicable to common shareholders was $1,259,000 or $.05 per common share for the three months ended June 30, 2009, as compared to net income applicable to common shareholders of $4,421,000 or $.18 per common share for the three months ended June 30, 2008, and net loss applicable to common shareholders of ($2,392,000) or ($.10) per common share for the nine months ended June 30, 2009 as compared to net income applicable to common shareholders of $3,524,000 or $.15 for the nine months ended June 30, 2008. Net cash provided by operating activities for the nine months ended June 30, 2009 was $15,035,000, as compared to $12,724,000 for the nine months ended June 30, 2008.
A summary of significant financial information for the three and nine months ended June 30, 2009 and 2008 is as follows:
Three Months Ended June 30, 2009 2008 Rental and Reimbursement Revenue $10,243,000 $9,505,000 Total Expenses $5,395,000 $4,849,000 Interest and Dividend Income $569,000 $509,000 Loss on Securities Transactions, net $(107,000) $(232,000) Gain on Sale of Investment Property $- $3,273,000 Net Income Applicable to Common Shareholders $1,259,000 $4,421,000 Net Income Applicable to Common Shareholders Per Common Share $.05 $.18 FFO (1) $3,692,000 $3,548,000 FFO Per Common Share (1) $.15 $.15 Weighted Avg. Common Shares Outstanding 25,299,000 24,185,000 Nine Months Ended June 30, 2009 2008 Rental and Reimbursement Revenue $31,077,000 $28,527,000 Total Expenses $15,977,000 $14,615,000 Interest and Dividend Income $1,852,000 $1,282,000 Loss on Securities Transactions, net $(6,689,000) $(3,660,283) Gain on Sale of Investment Property $- $3,273,000 Net Income (Loss) Applicable to Common Shareholders $(2,392,000) $3,524,000 Net Income (Loss) Applicable to Common Shareholders Per Common Share $(.10) $.15 FFO (1) $5,202,000 $7,524,000 FFO Per Common Share (1) $.21 $.31 Weighted Avg.
