Mainstreet Equity Corp. (T.MEQ) hit a new 52-week high of $25.75 Tuesday.
Chief Executive Officer and President Bob Dhillon of Mainstreet Equity Corp. reported the Q2 2012 results, stating that, "The Q2 results demonstrate that the Corporation's business model continues to deliver and create shareholder value."
Funds from operations ("FFO") were up 53% to $3.2 million (before disposition of an investment property and stock option cash settlement expense), versus $2.1 million in Q2 2011, while operating margins were at 61% versus 58% in Q2 2011.
Overall net operating income ("NOI") was up 22% to $11.1 million, while same asset NOI was up 9% versus Q2 2011. Rental revenues were up 17% year-over-year, at $17.9 million in Q2 2012 versus $15.3 million in Q2 2011. Finally, in Q2 2012, same asset revenues were up 4%.
The vacancy rate continued to trend downwards. As of May 1, 2012 the overall vacancy rate was down to 6.7% (inclusive of all unstabilized acquisitions), while the average vacancy rate for Q2 2012 was at 8.2% compared to 11.8% a year earlier.
Dollarama Inc. (T.DOL) hit a new 52-week high of $56.90 Tuesday. No news announcements today
First Capital Realty Inc. (T.FCR) hit a new 52-week high of $18.72 Tuesday. No news announcements today
Intertape Polymer Group Inc. (T.ITP) hit a new 52-week high of $5.65 Tuesday. No news announcements today
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