JERUSALEM, Aug 21 (Reuters) -
* Gazit-Globe, Israel’s largest real estate company, swung to a net loss in the second quarter after it sold stakes in two significant assets including unit First Capital Realty (FCR).
* The company said on Wednesday it lost 0.45 shekel per diluted share in the April-June period, compared with profit of 0.37 shekel a share a year earlier.
* Economic funds from operation (FFO), a measure of cash generated, rose 20% to 0.77 shekel a share in the quarter excluding Regency Centers, which it sold a year ago, and FCR.
* Revenue from property rental income slipped to 702 million shekels ($199 million) from 710 million.
* Net operating income rose 2% to 514 million shekels.
* It projects a pro forma economic FFO of 3.56-3.64 shekels a share for 2019.
* Gazit said it would pay a dividend of 0.405 shekel per share for the second quarter, the same as the first quarter.
* The company in April sold most of its stake in Canadian unit FCR for 3.3 billion shekels. It still holds 9.9% of FCR.
* Gazit also said it was considering selling up to 8% of shares in unit Atrium European Real Estate to an Israeli institutional investor in a deal expected to be completed in January 2020.
* Last month it agreed to buy the 40% of Atrium it does not already own and sell 12% of Atrium to Israeli insurer Menora Mivtachim Holdings. ($1 = 3.5273 shekels) (Reporting by Steven Scheer)
Our Standards: The Thomson Reuters Trust Principles.