Slate Office REIT Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Appoints Steve Hodgson as Chief Operating Officer
For the year, the company's rental revenue was $35,094,000 compared to $29,939,000 a year ago. Net income and comprehensive income was $14,571,000 compared to $13,201,000 a year ago. Funds from Operation was $10,650,000 compared to $7,513,000 a year ago. FFO per unit was $0.23 compared to $0.21 a year ago. Core FFO was $11,177,000 compared to $8,528,000 a year ago. Core FFO per unit was $0.24 compared to $0.24 a year ago. Adjusted funds from operations was $9,737,000 compared to $7,409,000 a year ago. AFFO per unit was $0.21 compared to $0.21 a year ago. Net operating income was $15,065,000 compared to $12,326,000 a year ago.
The board of trustees appointed Steve Hodgson as Chief Operating Officer of the REIT. Steve brings a wealth of experience to the REIT, as Vice President of Slate Office REIT, and his over 10 years of experience in the real estate industry.