August 12, 2010 / 2:57 PM / 8 years ago

UPDATE 1-Canada's H&R REIT Q2 FFO up on higher rental income

* Q2 FFO C$0.38 vs C$0.36 year ago

* Rentals from income properties up 2 pct

Aug 12 (Reuters) - H&R Real Estate Investment Trust (HR_u.TO) posted higher quarterly funds from operations (FFO) helped by increased rentals.

FFO — a property measure that strips out the distorting effects of depreciation and other factors from earnings — for the REIT in the quarter was C$56.6 million, or 38 Canadian cents per stapled basic unit.

That compares with FFO of C$53.4 million, or 36 Canadian cents per stapled basic unit in the year-ago period.

Adjusted FFO came in at C$55.8 million or 37 Canadian cents per stapled basic unit.

Rentals from income properties rose to C$151.3 million in the quarter from C$149 million last year.

Units of the REIT, which gained 12 percent over the past 3 months, were down 10 Canadian cents at C$17.96 Thursday morning on the Toronto Stock Exchange. (Reporting by Isheeta Sanghi in Bangalore; Editing by Vyas Mohan)

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