August 7, 2009 / 1:32 PM / 9 years ago

UPDATE 1-Canadian REIT posts Q2 FFO in line with estimates

* Q2 FFO C$0.57/unit

* Property rental revenue up 8 pct to C$78.8 mln

Aug 7 (Reuters) - Canadian Real Estate Investment Trust REF_u.TO posted quarterly funds from operations (FFO) in line with market estimates, helped by higher rental revenue.

The trust reported FFO of C$37.7 million ($35 million), or 57 Canadian cents per unit, compared with C$35.1 million, or 58 Canadian cents per unit, last year.

The decline in FFO per trust unit was due primarily to the dilutive effect of issuing about 5.0 million trust units in April, the company said.

Analysts on average expected FFO of 57 Canadian cents a unit, according to Reuters Estimates.

Property rental revenue grew 8 percent to C$78.8 million.

Units of the trust closed at C$24.71 Thursday on the Toronto Stock Exchange.

$1=1.077 Canadian dollar Reporting by R. Manikandan in Bangalore; Editing by Anne Pallivathuckal

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