Mass.-based real estate investment trust (REIT),
Winthrop Realty Trust
), disclosed the disposition of its medical office building
property in Deer Valley, Ariz. The move has helped the company
rope in $20.0 million as net proceeds.
The sell off clearly depicts a gain as the property was acquired
as part of a foreclosure by Winthrop on a loan receivable
purchased in Jun 2010 for an original purchase price of around
Winthrop Realty engages in the ownership and management of real
estate and real estate-related financial instruments such as
CMBS, bonds, REIT preferred and common stock. The company
reported a FFO (funds from operations) of 48 cents a share in the
first quarter of 2013, substantially beating the Zacks Consensus
Estimate of 21 cents. Notably, this REIT stock has beaten the
Zacks Consensus Estimate in 2 of the last 4 quarters with an
average surprise of 22.9%.
As a matter of fact, Winthrop is focused on riding the growth
trajectory by capitalizing on opportunistic investments. The
company, which had cash and cash equivalents worth $131.4 million
at the end of the first quarter 2013, is improving its liquidity
level through dispositions in order to capitalize on the
favorable investment opportunities the market is currently
Winthrop Realty carries a short-term Zacks Rank #2 (Buy). A
number of other REITs that are also performing well and deserve
), which carries a Zacks Rank #1 (Strong Buy), while
DCT Industrial Trust Inc.
) have a Zacks Rank #2.
FFO, a widely used metric to gauge the performance of REITs,
is obtained after adding depreciation and amortization and other
non-cash expenses to net income.
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