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PROPERTY TRUST OF AMERICA ANNOUNCES DIVIDEND DECLARATION

     PROPERTY TRUST OF AMERICA ANNOUNCES DIVIDEND DECLARATION
    EL PASO, Texas, Feb. 5 /PRNewswire/ -- Property Trust of America (NYSE: PTR) announced today that at a meeting of its board of trustees on Tuesday, Feb. 4, a distribution to shareholders of $0.175 per share was declared for payment on March 6 to shareholders of record Feb. 21. This level of distribution represents the new 1992 dividend level of $0.70 per share announced on Dec. 4, 1991 by the board of trustees, representing an increase of 9.4 percent over the prior annual dividend level of $0.64 per share.  As previously reported, the board's decision to increase the dividend was influenced by enhanced operating expectations for the trust's existing properties and the funds from operations to be generated by newly acquired multifamily properties.
    The board of trustees also reviewed the current status of project acquisitions under letter of intent and contract, as well as other projects currently being considered for the trust's multifamily portfolio, totaling in excess of $150 million.  The board of trustees announced it expects the closing of major new acquisitions in coming weeks.
    PTR is an equity real estate investment trust which acquires and develops multifamily properties in the southwestern United States.  In February 1990, Southwest Realty Investors Incorporated became PTR's principal shareholder and in March 1991 PTR retained Southwest Realty Advisors Incorporated as its advisor.  The advisor's management team has focused PTR's efforts on investment in multifamily properties in the Southwest with the goal of maximizing funds from operations and quarterly distributions to shareholders.
    -0-      2/5/92
    /CONTACT:  James H. Polk III, or Jeffrey A. Cozad, of Southwest Realty Advisors, 505-982-9292/
    (PTR) CO:  Property Trust of America ST:  Texas IN:  FIN SU:  DIV SH -- NY013 -- 7043 02/05/92 09:20 EST
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Publication:PR Newswire
Date:Feb 5, 1992
Words:297
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