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PROPERTY TRUST OF AMERICA ANNOUNCES DECLARATION OF DIVIDEND

 SANTA FE, N.M., July 23 /PRNewswire/ -- Property Trust of America (NYSE: PTR) announced today that its board of trustees declared a regular dividend of 20.5 cents per share, payable on Aug. 13, 1993 to shareholders of record on Aug. 2, 1993. On an annualized basis, this represents a dividend of 82 cents per share, which is a 17 percent increase over the 1992 dividend level.
 PTR's objective is to become the dominant real estate operating company in the southwestern United States focusing on the acquisition, development, operation and long-term ownership of multifamily properties.
 -0- 7/23/93
 /CONTACT: John Q. Collins of Security Capital Group, 800-982-9293, for Property Trust of America/
 (PTR)


CO: Property Trust of America ST: New Mexico IN: SU: DIV

TS -- NY019 -- 5022 07/23/93 09:11 EDT
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Publication:PR Newswire
Date:Jul 23, 1993
Words:134
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