Canadian Net REIT reports decreased FFO per unit, but increased rental income and property sales

From GlobeNewswire: 2024-08-20 16:30:00

Canadian Net Real Estate Investment Trust reported a 4% decrease in FFO per unit for Q2 2024, absorbing the impact of interest rate increases. The REIT sold five gas station properties to optimize its portfolio. Rental income increased by 1.7% compared to Q2 2023. For the six-month period ending June 30, 2024, FFO decreased to $6.3 million. Canadian Net will distribute $0.02875 per unit monthly in the last quarter of 2024. The REIT announced distributions for October, November, and December. The webcast to discuss earnings will be on August 21, 2024, at 9:00 a.m. EST.



Read more at GlobeNewswire:: Canadian Net REIT Announces 2024 Second-Quarter Results