Jp Realty Sees Earnings Increase

Fri., Nov. 3, 2000

From Staff

Third-quarter earnings increased for Salt Lake City-based real estate investment trust JP Realty Inc., which owns the Spokane Valley Mall, NorthTown and the Silver Lake Mall.

The firm said Thursday it earned $12,247,000 in funds from operations (FFO) - the measure used for REITs - for the quarter ended Sept. 30, up from $12,177,000 in the third quarter of 1999. Third quarter FFO per share increased 8.8 percent from 57 cents per share in 1999 to 62 cents per share in 2000.

Revenues rose by 11.6 percent, from $31.5 million in 1999 to $35.2 million this year. Earnings per share also rose, up 1 cent to 27 cents per share.

Net income, however, dropped from $4.67 million in the third quarter of 1999 to $4.45 million for the same quarter this year.

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Jp Realty Sees Earnings Increase

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