San Diego Business Journal

Excel Reports Revenue, Income Gains in Second Quarter

Tuesday, August 6, 2013

Excel Trust Inc. posted gains in revenue and funds from operations in its second quarter ending June 30.

According to a statement from the San Diego-based real estate investment trust, total revenue rose 34 percent from the year-ago quarter, to just over $27.4 million. Funds from operations, an industry-recognized supplemental metric gauging the performance of real estate portfolios, totaled $12 million for the period, up from $6 million a year ago.

The company reported $623,000 in net income attributable to common stockholders, compared with a net loss of $2.3 million in the year-ago quarter.

Excel Trust, with headquarters in Rancho Bernardo, invests primarily in retail centers and trades under the symbol EXL on the New York Stock Exchange.

— SDBJ Staff Report