Temple Real Estate Investment Trust
			Symbol			TR.UN
			Shares Issued			12,825,352
			Close 2009-11-24			C$ 3.30
			Recent Sedar Documents

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Temple REIT loses $180,211 in Q3

2009-11-24 17:37 ET - News Release

Mr. Arni Thorsteinson reports

TEMPLE REIT REPORTS 2009 THIRD QUARTER RESULTS

Temple Real Estate Investment Trust (TREIT) has released its financial results for the quarter ended Sept. 30, 2009. The following comments in regard to the financial position and operating results of TREIT should be read in conjunction with the Sept. 30, 2009, management discussion and analysis and the financial statements for the quarter ended Sept. 30, 2009, which may be obtained from the TREIT website or SEDAR.

2009 third quarter summary

Financial

Third quarter 2009 compared with second quarter 2009:

• Revenue per available room (RevPar) at the Fort McMurray properties decreased by 7.9 per cent from $108.13 to $99.58;
• Over all, RevPar decreased by 1.9 per cent from $94.80 to $92.95;
• Operating income decreased by approximately $650,000 or 10 per cent to $5.85-million;
• Operating profit margin decreased to 37 per cent compared with 40 per cent in the second quarter;
• Net income decreased by $1.01-million resulting in a net loss in the third quarter of $180,000;
• Distributable income decreased by $1.14-million (46.2 per cent) to $1.33-million or 10 cents per unit, representing a payout ratio of 96.5 per cent for the quarter;
• Funds from operations (FFO) decreased by $1.23-million (45.4 per cent) to $1.48-million or 12 cents per unit, representing a payout ratio of 86.7 per cent for the quarter.

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