Public reporting, daily NAV REIT, Dividend Capital Diversified Property Fund (DPF) announced its results for the third quarter ended September 30, 2014.
Total shareholder return for the quarter was 2.54% and was 8.48% for the twelve months preceding.
The company also revealed an impressive portfolio consisting of 69 operating properties in 24 geographic markets in the United States, totaling approximately 12 million square-feet.
Of the 69 properties, 25 are office properties valued at $1.4 billion, 31 are retail properties valued at $745.2 million, and 13 are industrial properties with a value of $263.2 million. In addition, after the third quarter closed, DPF acquired Salt Pond Shopping Center in Narragansett, RI for $39.2 million. The third quarter saw same-store property net operating income decrease by 1.2% compared to the previous quarter. The company also signed 31 leases for about 1,055,000 square feet, bringing the overall portfolio lease percentage to 92.8%, up from 92.6% in the second quarter.
DPF’s Funds from Operations (FFO) for the quarter were $24 million or $0.13 per basic and diluted share. This represents an increase from last year’s third quarter results of $23.8 million or $0.12 per basic and diluted share.
Generally accepted accounting principles (GAAP) net loss for the quarter was $7.5 million, or $0.04 per basic and diluted share, while last year for the same quarter it was $45.3 million, or $0.24 per basic and diluted share.
DPF will host a webinar/portfolio update call today at 2:15pm MT (4:15pm ET) to discuss performance results and financial metrics for the third quarter.
Dial-in Number: 888.383.1618
To access the live webinar, visit the Investor Relations page at DPF’s website, www.dividendcapitaldiversified.com
The webinar replay will be posted when available on the Investor Relations page of DPF’s website.