Calloway REIT announced that the trustees of the REIT have declared a distribution for the month of May 2013 of CAD 0.129 per trust unit, representing CAD 1.548 per unit on an annualized basis. Payment will be made on June 17, 2013 to unitholders of record on May 31, 2013.

Calloway Real Estate Investment Trust reported earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported net income excluding income tax of $153.6 million compared to $142.4 million last year. Excluding the impact of fair value adjustments, net income increased by $4.7 million compared to the same quarter of 2012 mainly due to an increase in net operating income of $2.6 million and a decrease in interest expense of $3.2 million offset by an increase in general and administrative costs of $0.6 million and a decrease in interest income of $0.4 million. Rental revenue was $141.5 million compared to $136.5 million last year. Net operating income was $90.5 million compared to $87.9 million last year. Cash flow as measured by FFO was $60.0 million compared to $54.6 million last year. FFO excluding current income tax was $0.451 per diluted share compared to $0.434 per diluted share last year. AFFO was $0.424 per unit compared to $0.413 per unit last year.

Calloway REIT announced that the trustees of the REIT have declared a distribution for the month of April 2013 of CAD 0.129 per trust unit, representing CAD 1.548 per unit on an annualized basis. Payment will be made on May 15, 2013 to unitholders of record on April 30, 2013.