AmREIT – AMRE – Announces Third Quarter Dividend

AmREIT, Inc. (NYSE:AMRE), a Houston-based real estate company that has elected to be taxed as a real estate investment trust, today announced a $0.20 dividend per share and its financial results for the second quarter ended June 30, 2012, the first quarter following our public stock offering.

AMRE Quarterly Dividends

AmREIT announced today that its Board of Directors approved a $0.20 per share dividend on its Common Stock. The regular common stock dividend will be payable on September 28, 2012 to stockholders of record as of September 18, 2012.

AMRE Financial Results

In the second quarter of 2012, AmREIT generated funds from operations (“FFO”) of $3.7 million, or $0.32 per share, as compared to FFO of $3.0 million, or $0.26 per share, in the second quarter of 2011. For the six months ended June 30, 2012, AmREIT generated FFO of $7.3 million, or $0.63 per share, compared to $6.1 million, or $0.53 per share, for the comparable six-month period in 2011.

Net income was $1.4 million and earnings per share was $0.12 per share for the second quarter of 2012, as compared to net income of $566,000 and earnings per share of $0.05 for the second quarter of 2011. For the six months ended June 30, 2012, AmREIT reported net income of $2.7 million and earnings per share of $0.23. This compares to net income of $1.9 million and earnings per share of $0.16 for the six months ended June 30, 2011.

“We are gratified to conclude our Vision 2012 strategic plan with the public offering and listing of our Class B Common Stock on the New York Stock Exchange and appreciate the support of our investors. Our second quarter same-store NOI growth was 4.9%, which was supported by strong occupancy of 95.8% and cash leasing spreads of 12.4% on renewals and 25% on comparable new leases. We continue to benefit from robust economies in our key Texas markets and are pleased with our operating performance. These results continue to validate our strategy of owning and constantly creating value on Irreplaceable Corners^TM in premier submarkets,” said H. Kerr Taylor, President and Chief Executive Officer of AmREIT.

About AmREIT – AMRE

AmREIT, Inc. (AMRE), headquartered in Houston, is a full service, vertically integrated and self-administered real estate investment trust that owns, operates, acquires and selectively develops and redevelops primarily neighborhood and community shopping centers located in high-traffic, densely populated, affluent areas with significant barriers to entry. As of June 30, 2012, AmREIT’s portfolio consisted of 29 retail properties that were 95.8% leased and are typically anchored by strong national and local retailers including supermarket chains, drug stores and other necessity-based retailers with the remaining tenant base comprised predominantly of specialty retailers and national and local restaurants. AmREIT’s core markets include affluent, high-growth submarkets in the top-growth cities of Houston, Dallas, San Antonio, Austin, and Atlanta. In addition, AmREIT manages and has varying minority ownership interests in eight advised funds, which owned, as of June 30, 2012, 18 properties.

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Post Written By: Ed Liston Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.