That compared to $8.6 million or 28 cents per share in the comparable 2000 period.
Funds from operations were down, however. FFO of $10.9 million or 36 cents per share compared to $11.2 million or 37 cents per share in the same period last year. The stock is trading on the New York Stock Exchange at $12.34 per share.
The company's profits were helped by the sale of 10 properties for $18.1 million in the first quarter, generating a net gain of $2.9 million. Seven properties were leased to Hi-Lo Automotive and three to Barnes & Noble.
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