Americana Hotels and Realty announces second quarter financial results.BOSTON--(BUSINESS WIRE)--Sept. 19, 1996--Americana Hotels and Realty realty n. a short form of "real estate." (See: real estate) REALTY. An abstract of real, as distinguished from personalty. Realty relates to lands and tenements, rents or other hereditaments. Vide Real Property. Corp. (NYSE-AHR) today announced a second quarter loss of $(56,000) compared to earnings of $168,000 in 1995. Results for the first half of 1996 were earnings of $106,000 or $.01 per share compared to $293,000 or $.04 per share in 1995. The primary reasons for the reduction were the disposition Act of disposing; transferring to the care or possession of another. The parting with, alienation of, or giving up of property. The final settlement of a matter and, with reference to decisions announced by a court, a judge's ruling is commonly referred to as disposition, regardless of of a mortgage asset in March and the reduction in interim interest income from cash equivalents following a liquidating distribution of $13,000,000 to stockholders in June June: see month. . #T Financial Results Quarter Quarter Six Six Ended Ended Months Months June 30, June 30, June 30, June 30, 1996 1995 1996 1995 Revenues $193,000 $506,000 $640,000 $1,023,000 Expenses 249,000 338,000 534,000 730,000 Net earnings $(56,000) $168,000 $106,000 $293,000 Net earnings per share (loss) $(.01) $.02 $.01 $.04 Average shares outstanding 6,524,000 6,524,000 6,524,000 6,524,000
Americana Hotels and Realty Corp. is a Real Estate Investment
Trust which is currently operating under a plan of disposition of
assets and liquidation approved by stockholders in 1988.
CONTACT: Americana Americana, term used to describe material printed in or about the Americas, or written by Americans; usually restricted to the formative period in the history of the two continents. Hotels and Realty Corp. Morris W. Kellogg, 617/247-3358 |
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