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