Monmouth Real Estate Investment Corporation (MNRTA) Reports Strong FFO in Second Quarter
Monmouth Real Estate Investment Corp. reported funds from operations (FFO) of $3.692 million, or $0.15 per share, for its third fiscal quarter of 2009, ending 6/30/2009. This brings its nine months FFO to $11.89 million or $0.48 per share, excluding non-cash impairment and other one-time charges. Other highlights in the quarter include: • An ending cash balance of $8.0 million • Occupancy rate of 96% • Average lease maturity of approximately 5 years Eugene W. Landy, the President of Monmouth Real Estate Investment Corporation, said, "MREIC continues to perform well despite weakness in the overall economy. By investing in net-leased…