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Canadian Net REIT Reports Higher Adjusted FFO for Second Quarter; Q4 Monthly Distributions Set

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Canadian Net REIT (NET-UN.V) after trade Tuesday reported second-quarter adjusted funds from operations of C$0.161 per unit, up from C$0.157 a year ago.

Analysts polled by FactSet expected AFFO per share of C$0.16.

Rental income for the quarter ended June 30 was C$7.11 million, up from C$6.89 million a year prior. Net operating income stood at C$5.11 million, up from C$5.03 million a year earlier.

Analysts polled by FactSet expected net operating income of C$5 million.

The company announced monthly cash distributions of C$0.03 per unit for Q4. The distributions will be paid on Oct. 30, Nov. 30 and Dec. 31, respectively, to unitholders of record on Oct. 15, Nov. 13 and Dec. 15.

The REIT's units closed up C$0.01 to C$6.73 on the TSX Venture Exchange.

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