|By PR Newswire||
|August 11, 2014 04:00 PM EDT||
MONTRÉAL, Aug. 11, 2014 /CNW/ - BTB Real Estate Investment Trust (TSX: BTB.UN) ("BTB" or the "Trust") releases today its financial results for the second quarter ended June 30, 2014, and announces the following highlights:
Highlights of the Second Quarter 2014 vs 2013
- the payout ratio from 76.7% to 75.8%
- the AFFO payout ratio from 92.8% to 88.0%
- the mortgage loan to value ratio from 60.5% to 56.1%
- the weighted average interest rate on mortgage loans from 4.67% to 4.23%
- 2.4% of rental income
- 4.2% of net operating income
- 5.4% of distributable income – from 13.0¢ to 13.7¢ per unit
- 8.3% of FFO – from 12.0¢ to 13.0¢ per unit
- 9.3% of AFFO – from 10.8¢ to 11.8¢ per unit
Significant leasing activities
- 191,000 square feet leased or renewed during the quarter, with an increase of 3.36% for lease renewals
- Occupancy increases from 91.6% to 92.8%
- On May 26, 2014, the Trust acquired a major retail complex in Saint-Jean-sur-Richelieu with 226,000 square feet of leasable area leased to well known national retailers such as Pharmaprix (Shoppers), Maxi (Loblaws) and Dollarama, as well as a Quebec Government medical clinic, for an acquisition price of $31.6 million.
- On May 26, 2014, the Trust secured a mortgage in the amount of $20.5 million, bearing interest at the rate of 4.40% for a 10-year term, to finance the above-mentioned acquisition.
- On June 18, 2014, the Trust issued 4,836,000 units at a price of $4.55 per unit, and on June 30, 2014, it closed the over-allotment option for 600,000 additional units at a price of $4.55 per unit for total net proceeds of $23.4 million, net of underwriters' fees.
- The Trust secured an acquisition line of credit for $15 million with Laurentian Bank of Canada, bearing interest at prime plus 3.25%. This new acquisition line replaces the previous line and, if used, will produce a 2% interest cost saving.
Subsequent event as at June 30, 2014
- The Board of Trustees voted in favor of a 5% increase in the distribution payable as of September 15, 2014, or from 40¢ to 42¢ per unit on an annualized basis.
"During the second quarter, BTB saw an improvement in its fundamentals and its AFFO reached 88%. In addition, strong activity in lease renewals and new leases marqued this quarter. BTB's other ratios and results continued to improve over those of the preceding quarters. Based on its performance, the board of trustees of BTB voted to increase by 5% the distributions payable to its unitholders in recognition of their support", stated Michel Léonard, President and Chief Executive Officer.
On Tuesday August 12, 2014, at 10:00 a.m. (ET) management will hold a conference call to discuss BTB's financial results and performance for the second quarter ended June 30, 2014.
Tuesday, August 12, 2014
10:00 a.m. (Eastern Standard Time)
1-647-427-7450 (from Toronto and overseas) access code 81476079# 1‑888‑231-8191 (from North America) toll free, access code 81476079#. To ensure your participation, please dial in fifteen minutes prior to the start of the conference call.
From Tuesday August 12, 2014, 1:00 p.m. until 11:59 p.m. on August 18, 2014, dial 1‑416‑849‑0833 conference ID number 81476079#, or dial toll free 1‑855‑859-2056 conference ID number 81476079#.
The media and all interested parties may attend the call in listening mode only.
Conference call operators will coordinate the question and answer period, and will instruct participants regarding the procedures for the call.
BTB is a real estate investment trust listed on the Toronto Stock Exchange. BTB is an important owner of properties in eastern Canada. Today, BTB owns 70 commercial, office and industrial properties for a total leasable area of approximately 4.8 million square feet. BTB's asset value is in excess of $580M. The objectives of BTB are: i) to grow its revenues from its assets to increase distributable income and therefore fund distributions; (ii) to maximize the value of its assets through dynamic management of its properties in order to sustain the long-term value of its units; and (iii) to generate cash distributions that are fiscally beneficial to unitholders.
BTB offers a distribution reinvestment plan to unitholders whereby the participants may elect to have their monthly cash distribution reinvested in additional units of BTB at a price based on the weighted average price for BTB's Units on the Toronto Stock Exchange for the five trading days immediately preceding the distribution date, discounted by 5%.
SOURCE BTB Real Estate Investment Trust
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
Oct. 27, 2016 07:00 AM EDT Reads: 5,004
Amazon has gradually rolled out parts of its IoT offerings, but these are just the tip of the iceberg. In addition to optimizing their backend AWS offerings, Amazon is laying the ground work to be a major force in IoT - especially in the connected home and office. In his session at @ThingsExpo, Chris Kocher, founder and managing director of Grey Heron, explained how Amazon is extending its reach to become a major force in IoT by building on its dominant cloud IoT platform, its Dash Button strat...
Oct. 27, 2016 07:00 AM EDT Reads: 4,930
SYS-CON Events announced today that Streamlyzer will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Streamlyzer is a powerful analytics for video streaming service that enables video streaming providers to monitor and analyze QoE (Quality-of-Experience) from end-user devices in real time.
Oct. 27, 2016 06:45 AM EDT Reads: 1,086
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
Oct. 27, 2016 06:45 AM EDT Reads: 1,053
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his general session at @DevOpsSummit at 19th Cloud Expo, Eric Robertson, General Manager at CollabNet, will discuss how customers are able to achieve a level of transparency that e...
Oct. 27, 2016 06:00 AM EDT Reads: 1,034
Cloud based infrastructure deployment is becoming more and more appealing to customers, from Fortune 500 companies to SMEs due to its pay-as-you-go model. Enterprise storage vendors are able to reach out to these customers by integrating in cloud based deployments; this needs adaptability and interoperability of the products confirming to cloud standards such as OpenStack, CloudStack, or Azure. As compared to off the shelf commodity storage, enterprise storages by its reliability, high-availabil...
Oct. 27, 2016 05:45 AM EDT Reads: 1,254
The IoT industry is now at a crossroads, between the fast-paced innovation of technologies and the pending mass adoption by global enterprises. The complexity of combining rapidly evolving technologies and the need to establish practices for market acceleration pose a strong challenge to global enterprises as well as IoT vendors. In his session at @ThingsExpo, Clark Smith, senior product manager for Numerex, will discuss how Numerex, as an experienced, established IoT provider, has embraced a ...
Oct. 27, 2016 05:30 AM EDT Reads: 1,213
DevOps theory promotes a culture of continuous improvement built on collaboration, empowerment, systems thinking, and feedback loops. But how do you collaborate effectively across the traditional silos? How can you make decisions without system-wide visibility? How can you see the whole system when it is spread across teams and locations? How do you close feedback loops across teams and activities delivering complex multi-tier, cloud, container, serverless, and/or API-based services?
Oct. 27, 2016 05:15 AM EDT Reads: 1,138
Today every business relies on software to drive the innovation necessary for a competitive edge in the Application Economy. This is why collaboration between development and operations, or DevOps, has become IT’s number one priority. Whether you are in Dev or Ops, understanding how to implement a DevOps strategy can deliver faster development cycles, improved software quality, reduced deployment times and overall better experiences for your customers.
Oct. 27, 2016 05:15 AM EDT Reads: 982
In the 21st century, security on the Internet has become one of the most important issues. We hear more and more about cyber-attacks on the websites of large corporations, banks and even small businesses. When online we’re concerned not only for our own safety but also our privacy. We have to know that hackers usually start their preparation by investigating the private information of admins – the habits, interests, visited websites and so on. On the other hand, our own security is in danger bec...
Oct. 27, 2016 04:45 AM EDT Reads: 452
The Internet of Things (IoT), in all its myriad manifestations, has great potential. Much of that potential comes from the evolving data management and analytic (DMA) technologies and processes that allow us to gain insight from all of the IoT data that can be generated and gathered. This potential may never be met as those data sets are tied to specific industry verticals and single markets, with no clear way to use IoT data and sensor analytics to fulfill the hype being given the IoT today.
Oct. 27, 2016 04:45 AM EDT Reads: 2,877
Enterprises have been using both Big Data and virtualization for years. Until recently, however, most enterprises have not combined the two. Big Data's demands for higher levels of performance, the ability to control quality-of-service (QoS), and the ability to adhere to SLAs have kept it on bare metal, apart from the modern data center cloud. With recent technology innovations, we've seen the advantages of bare metal erode to such a degree that the enhanced flexibility and reduced costs that cl...
Oct. 27, 2016 04:30 AM EDT Reads: 482
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his session at @DevOpsSummit 19th Cloud Expo, Eric Robertson, General Manager at CollabNet, will show how customers are able to achieve a level of transparency that enables everyon...
Oct. 27, 2016 04:00 AM EDT Reads: 1,362
Donna Yasay, President of HomeGrid Forum, today discussed with a panel of technology peers how certification programs are at the forefront of interoperability, and the answer for vendors looking to keep up with today's growing industry for smart home innovation. "To ensure multi-vendor interoperability, accredited industry certification programs should be used for every product to provide credibility and quality assurance for retail and carrier based customers looking to add ever increasing num...
Oct. 27, 2016 04:00 AM EDT Reads: 772
“Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. CloudBerry Backup is a leading cross-platform cloud backup and disaster recovery solution integrated with major public cloud services, such as Amazon Web Services, Microsoft Azure and Google Cloud Platform.
Oct. 27, 2016 03:45 AM EDT Reads: 1,509