On Feb. 27, commercial REIT Agree Realty
- For the quarter, funds from operations (a REIT measure of cash flow) increased 15.2% to $5.2 million.
- At the end of the year, Agree had $223 million in assets, composed of 60 properties with 3.3 million square feet. Occupancy was pristine, with 99.7% of the portfolio leased.
- The company's three largest tenants are Borders
(NYSE:BGP) , Walgreen(NYSE:WAG) and Kmart, a unit of Sears Holdings(NASDAQ:SHLD) , which together account for 67% of the company's base rent.
(Figures in thousands, except per-share data)
Income Statement Highlights
|
Q4 2006 |
Q4 2005 |
Change |
|
|---|---|---|---|
|
Sales |
$8,354 |
$8,328 |
0.3% |
|
Net Profit |
$3,719 |
$5,773 |
(35.6%) |
|
EPS |
$0.49 |
$0.75 |
(34.7%) |
|
Diluted Shares |
8,341 |
8,347 |
(0.1%) |
Get back to basics with a look at the income statement.
Balance Sheet Highlights
|
Assets |
Q4 2006 |
Q4 2005 |
Change |
|---|---|---|---|
|
Land |
$77,537 |
$73,035 |
6.2% |
|
Buildings |
$189,117 |
$185,872 |
1.7% |
|
Total Assets |
$223,515 |
$224,299 |
(0.3%) |
|
Liabilities |
Q4 2006 |
Q4 2005 |
Change |
|---|---|---|---|
|
Debt |
$68,791 |
$69,061 |
(0.4%) |
|
Total Liabilities |
$87,217 |
$87,693 |
(0.5%) |
Learn the ways of the balance sheet.
Cash Flow Highlights
|
Q4 2006 |
Q4 2005 |
Change |
|
|---|---|---|---|
|
FFO |
$5,260 |
$4,567 |
15.2% |
|
FFO Per Share |
0.63 |
0.55 |
14.5% |
Find out why Fools always follow the money.
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Fool by Numbers is designed to give you the raw earnings information in a timely fashion, putting all the numbers you need in one easy-to-read place. But at The Motley Fool, we believe numbers tell only part of the story, so check Fool.com for more of our in-depth discussion of what the numbers mean.
Borders Group is a Motley Fool Inside Value recommendation. Agree Realty is a Motley Fool Income Investor recommendation. Try any one of our investing services free for 30 days.
Fool contributor Emil Lee is an analyst and a disciple of value investing. He doesn't own shares in any of the companies mentioned above. Emil appreciates your comments, concerns, and complaints. The Motley Fool has a disclosure policy.
