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    Colonial Properties Trust Announced Financials for Q4 2012 (CLP)

    January 28 Jan 2013 | 10:49
     

    crwenews

    clp Colonial Properties Trust (NYSE: CLP)

    CLP (“Colonial”) previously reported its results for the quarter and year ended December 31, 2012. For the fourth quarter 2012, CLP (“Colonial”) reported net income available to common shareholders (EPS) of $16.0 million, or $0.18 per diluted share, compared with net income available to common shareholders of $9.1 million, or $0.10 per diluted share, for the same period in 2011. The increase compared with the prior-year period is primarily attributable to $22.7 million of gains recognized from the sale of four multifamily apartment communities and one commercial asset during the fourth quarter 2012 and an increase in multifamily same-property net operating income (NOI) in 2012 as a result of improving rental rates, partially offset by certain one-time charges totaling $14.2 million, as further discussed below under Other Charges.

    clpchart

    For the year ended December 31, 2012, CLP (“Colonial”) reported net income available to common shareholders of $19.9 million, or $0.22 per diluted share, compared with net income available to common shareholders of $3.4 million, or $0.04 per diluted share, for 2011. The increase compared with the prior-year is primarily attributable to an increase in multifamily same-property NOI in 2012 as a result of improving rental rates, income derived from multifamily apartment communities acquired during 2011 and 2012, and a $21.9 million gain recognized from the company’s disposition of its ownership interest in the DRA/CLP office joint venture, partially offset by certain one-time charges totaling $14.2 million, as further discussed below under Other Charges.

    For more information on Colonial Properties Trust visit www.colonialprop.com

    In my opinion this is a stock to watch!

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