|

FUNDS FROM OPERATIONS
For the three months and years ended December 31, 2001 and 2000
(dollars in thousands, except per share amounts)
|
 |
 Three Months Ended 12/31/01 |
 Three Months Ended 12/31/00 |
 Year Ended 12/31/01 |
 Year Ended 12/31/00 |
 |
Net income available to
common stockholders |
$ 15,995 |
$ 14,234 |
$ 57,846 |
$ 45,076 |
| Plus: |
Depreciation and
amortization |
7,523 |
8,498 |
29,125 |
29,003 |
Provision for impairment
losses on properties
held for sale |
400 |
-- |
1,450 |
-- |
| Less: |
Depreciation of furniture,
fixtures and equipment |
(30) |
(29) |
(115) |
(128) |
Gain on sales of investment
properties |
(1,557) |
(4,881) |
(10,478) |
(6,712) |
 |
| Funds from operations |
$ 22,331 |
$ 17,822 |
$ 77,828 |
$ 67,239 |
 |
Dividends paid to
common stockholders |
$ 17,966 |
$ 14,650 |
$ 64,871 |
$ 58,262 |
| FFO in excess of dividends |
$ 4,365 |
$ 3,172 |
$ 12,957 |
$ 8,977 |
Basic and diluted FFO per common share
| $ 0.70 |
$ 0.67 |
$ 2.66 |
$ 2.52 |
Weighted average number of
common shares used for: |
|
|
|
|
Basic per share
computation |
32,077,535 |
26,571,992 |
29,225,359 |
26,684,598 |
Diluted per share
computation |
32,129,601 |
26,595,574 |
29,281,120 |
26,700,806 |
|