August 9, 2011 / 6:44 PM / in 6 years

UPDATE 1-TransGlobe Apartment REIT's Q2 FFO triple

* Q2 FFO C$0.25 vs C$0.14 year-ago

* Rev triples to C$32.9 mln

* Occupancy rises to 96 pct (Follows alerts)

Aug 9 (Reuters) - Canada’s TransGlobe Apartment Real Estate Investment Trust’s TGA_u.TO second-quarter funds from operations (FFO) nearly tripled, helped by contribution from acquisitions and higher occupancy.

TransGlobe Apartment reported FFO of C$11 million ($11.1 million), or 25 Canadian cents per unit, in the April-June quarter, compared with C$4.2 million, or 14 Canadian cents per unit.

Total revenue nearly tripled to C$32.9 million. Overall portfolio occupancy in the quarter was 96 percent, up from 94.9 percent in the same period last year.

The Ontario-based company’s shares were up about 3 percent at C$10.39 on Tuesday afternoon on the Toronto Stock Exchange.

$1 = 0.993 Canadian Dollars Reporting by Amruta Sabnis in Bangalore; Editing by Maju Samuel

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