Aegis Realty quarterly profits up

Real estate investment trust Aegis Realty Inc. on Friday reported a 10.3 percent increase in first-quarter funds from operations (FFO), and also announced that Chief Financial Officer Michael Wirth is resigning on May 15.

Aegis said FFO -- a key performance gauge of real estate investment firms -- rose to $2.9 million, or 33 cents a share, from $2.6 million, or 30 cents a share, a year earlier. The company said quarterly revenue rose to $6.7 million from $6.5 million.

(source: Aegis Realty Inc.)

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