|

CONSOLIDATED STATEMENTS OF INCOME
|
For three months and years ended December 31, 2000 and 1999
(dollars in thousands, except per share amounts)
(unaudited)
|
 |
 Three Months Ended 12/31/00 |
 Three Months Ended 12/31/99 |
 Year Ended 12/31/00 |
 Year Ended 12/31/99 |
 |
| REVENUE |
| Rental |
$ 31,331 |
$ 28,588 |
$ 117,190 |
$ 104,270 |
| Gain on sale of real estate held for sale
| 208 |
-- |
766 |
-- |
| Interest and other |
90 |
134 |
354 |
240 |
 |
| |
31,629 |
28,722 |
118,310 |
104,510 |
 |
| EXPENSES |
| Interest |
8,734 |
6,448 |
31,547 |
24,473 |
| Depreciation and amortization |
8,498 |
6,965 |
29,003 |
25,952 |
| General and administrative |
1,847 |
1,715 |
6,839 |
6,538 |
| Property |
515 |
466 |
2,032 |
1,822 |
| Other |
254 |
98 |
813 |
430 |
 |
| |
19,848 |
15,692 |
70,234 |
59,215 |
 |
| Income from operations |
11,781 |
13,030 |
48,076 |
45,295 |
| Gain on sales of investment properties |
4,881 |
65 |
6,712 |
1,301 |
 |
| Income before extraordinary item |
16,662 |
13,095 |
54,788 |
46,596 |
| Extraordinary item |
|
(355) |
|
(355) |
 |
| Net Income |
16,662 |
12,740 |
54,788 |
46,241 |
| Preferred stock dividends |
(2,428) |
(2,437) |
(9,712) |
(5,229) |
 |
| Net income available to common stockholders |
$ 14,234 |
$10,303 |
$ 45,076 |
$ 41,012 |
 |
 |
| Funds from operations (FFO) |
$ 17,822 |
$ 17,525 |
$ 67,239 |
$ 65,917 |
| Basic and diluted per share information for common stockholders: |
|
|
| Income from operations |
$0.35 |
$0.39 |
$1.44 |
$1.49 |
| Net Income |
0.54 |
0.38 |
1.69 |
1.53 |
| FFO |
0.67 |
0.65 |
2.52 |
2.46 |
| Cash dividends paid |
0.551 |
0.533 |
2.183 |
2.085
|
 |
|