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Thursday, Mar 28, 2024
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Excel Trust Sees 4.5 Percent Revenue Increase in Third Quarter

San Diego-based Excel Trust Inc. posted a 4.5 percent gain from a year ago in total revenue for its third quarter ending Sept. 30, reaching $30.2 million.

Officials of the real estate investment trust said the company saw a net loss attributable to common shareholders of $2.8 million, compared with net income of $10.7 million in the year-ago quarter.

Adjusted funds from operations, an industry recognized supplemental metric gauging the performance of real estate portfolios, increased 3.5 percent to $12.1 million.

Excel Trust Inc. (NYSE: EXL) is headquartered in Rancho Bernardo and invests primarily in shopping centers and related retail properties. The company’s nationwide portfolio was 93.8 percent leased as of Sept. 30, officials said.

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