UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
----------------------
FORM 10-Q
Amendment No. 1
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 1997
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Commission file number: 1-12592
WALDEN RESIDENTIAL PROPERTIES, INC.
(Exact name of Registrant as specified in its Charter)
MARYLAND 75-2506197
(State or other jurisdiction (I.R.S. Employer Identification of
incorporation Number)
or organization)
One Lincoln Centre
5400 LBJ Freeway, Suite 400
Dallas, Texas 75240
(Address of principal executive offices)
(972) 788-0510
(Registrant's telephone number, including area code)
Indicate by check mark whether the registrant: (1) has filed all
reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 12 months (or
for such shorter period that the registrant was required to file
such reports), and (2) has been subject to such filing requirements
for the past 90 days.
YES X NO
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APPLICABLE ONLY TO CORPORATE ISSUERS
Indicate the number of shares outstanding of each of the issuer's
classes of common stock, as of the latest practicable date: As of
May 5, 1997, there were 17,401,486 shares of Common Stock, $0.01,
par value outstanding.
<Page 1>
EXPLANATORY NOTE
Walden Residential Properties, Inc., a Maryland corporation,
hereby amends its Quarterly Report on Form 10-Q for the three
months ended March 31, 1997, by submitting Exhibit 12.1 which was
inadvertently omitted from the Company's previous filing.
<Page 2>
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
WALDEN RESIDENTIAL PROPERTIES, INC.
By: / s / Mark S. Dillinger
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Mark S. Dillinger
Executive Vice President
& Chief Financial Officer
Date: May 27, 1997
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EXHIBIT INDEX
Exhibit No. Description Page No.
11.1 Computation of Net Income
per Share E-2 *
27 Financial Data Schedule --
12.1 Computation of Ratio of
Earnings to combined Fixed
Charges and Preferred Stock
Dividends E-3
* Previously filed with original Form 10-Q for the three months
ended March 31, 1997.
<Page E-3>
Exhibit 12.1
WALDEN RESIDENTIAL PROPERTIES, INC.
COMPUTATION OF RATIO OF EARNINGS TO COMBINED
FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(Dollars in thousands)
<TABLE>
<CAPTION>
Three Months Ended
March 31,
------------------
1997 1996
---- ----
<S> <C> <C>
Income before extraordinary item. . . . . . . . . $ 6,735 $ 3,520
Add:
Interest on indebtedness. . . . . . . . . . . . 4,877 4,922
Amortization. . . . . . . . . . . . . . . . . . 211 175
------- -------
Earnings . . . . . . . . . . . . . . . . . . $11,823 $ 8,617
======= =======
Fixed charges and preferred stock dividends:
Interest on indebtedness. . . . . . . . . . . . $ 4,877 $ 4,922
Amortization. . . . . . . . . . . . . . . . . . 211 175
------- -------
Fixed charges. . . . . . . . . . . . . . . . 5,088 5,097
Add:
Preferred stock dividends (1). . . . . . . . 3,717 471
------- -------
Combined fixed charges and preferred
stock dividends. . . . . . . . . . . . . $ 8,805 $ 5,568
======= =======
Ratio of earnings to fixed charges. . . . . . . . 2.32x 1.69x
Ratio of earnings to fixed charges and
preferred stock dividends . . . . . . . . . . . 1.34x 1.55x
</TABLE>
(1) Includes preferred stock dividends on convertible equity
securities and convertible and perpetual (senior)
preferred stock.
