Union Property Investors Inc. reports unaudited proforma results for the nine month period ended Sept. 30, 1995.BOCA RATON, Fla.--(BUSINESS WIRE)--Jan. 5, 1996--Union Property Investors Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:UPIC UPIC Universal Promotional Identification Code ) reported unaudited results on a proforma basis for the nine month period ended Sept. 30, 1995 as if the company had ownership of 16 commercial real estate properties, which it currently owns, as of Jan. 1, 1995. Proforma funds from operations Funds From Operations (FFO) Used by real estate and other investment trusts to define the cash flow from trust operations; earnings with depreciation and amortization added back. for the nine month period ended Sept. 30, 1995 were $2.4 million, or $0.63 per share. Proforma funds from operations consists of proforma pretax net income plus depreciation and amortization. On an unaudited proforma basis, as of Sept. 30, 1995, the company reported: -- total assets of $51,917,777 -- total liabilities of $29,649,341 -- total redeemable preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. of $6,500,000 -- total stockholders equity of $15,768,436 The unaudited proforma basis book value per share at Sept. 30, 1995 was $4.16. CONTACT: Union Property Investors Inc., Boca Raton Karen Renza, Director of Shareholder Services 407/394-9388 |
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