DCT Industrial Trust® Joins Other Leading Industrial REITs in Conforming Certain Non-GAAP Operating Metrics
January 17 2018 - 3:05PM
Business Wire
DCT Industrial Trust® (the “Company”) (NYSE: DCT) today
announced that a group of leading industrial real estate investment
trusts, including, along with the Company, Duke Realty Corporation
(DRE), EastGroup Properties (EGP), First Industrial Realty Trust,
Inc. (FR), Liberty Property Trust (LPT), Prologis Inc. (PLD), and
STAG Industrial, Inc. (STAG) (the “Industrial REIT Group”), has
agreed on a consistent methodology to calculate various non-GAAP
property operating metrics. These non-GAAP metrics include common
methodologies for determining property stabilization and occupancy
as well as reporting of comparative changes in rental rates and
tenant retention rates. In addition, the Industrial REIT Group has
agreed on the definition of the annual pool of properties
(“Same-Store pool”) used in calculating Same-Store or same property
net operating income growth (“Same-Store NOI”). Specifically, the
annual Same-Store pool will only include properties held as of the
beginning of the prior calendar year which were stabilized
(according to the agreed upon definition) throughout both periods
presented.
Beginning in the first quarter of 2018, all members of the
Industrial REIT Group have agreed to calculate these non-GAAP
metrics based on the agreed upon methodologies. These conforming
calculations are consistent with the methodology DCT used to
calculate these metrics throughout 2017. 2018 guidance provided by
members of the Industrial REIT Group will also be based on the
revised methodologies.
Although there may be minor distinctions between how companies
within the Industrial REIT Group calculate a given metric or in the
terminology used, the collective intent is to produce calculations
that are consistent in all material respects.
About DCT Industrial
Trust®
DCT Industrial is a leading real estate company specializing in
the ownership, development, acquisition, leasing and management of
bulk-distribution and light-industrial properties in high-demand
distribution markets in the United States. DCT’s actively-managed
portfolio is strategically located near population centers and
well-positioned to take advantage of market dynamics. As of
September 30, 2017, the Company owned interests in approximately
73.7 million square feet of properties leased to approximately 870
customers. DCT maintains a Baa2 rating from Moody’s Investors
Service and a BBB from S&P Global Ratings. Additional
information is available at www.dctindustrial.com.
Click here to subscribe to Mobile Alerts for DCT
Industrial.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20180117006310/en/
DCT Industrial TrustMelissa Sachs,
303-597-2400investorrelations@dctindustrial.com
Dct Industrial Trust (delisted) (NYSE:DCT)
Historical Stock Chart
From Apr 2024 to May 2024
Dct Industrial Trust (delisted) (NYSE:DCT)
Historical Stock Chart
From May 2023 to May 2024
Real-Time news about Dct Industrial Trust (delisted) (New York Stock Exchange): 0 recent articles
More Dct Industrial Trust News Articles