"The 20% growth reflected in the company's FFO this quarter is primarily the result of the acquisitions made in 2001," Jones says. "These two accretive acquisitions met several company objectives and have positioned us favorably for 2002."
FFO in first quarter 2001 was $3.48 million or 49 cents per diluted share. Net income was $2.1 million or 39 cents per diluted share. First quarter 2002 revenue of $7.46 million compared with $5.82 million in the comparable 2001 period.
The REIT is also paying shareholders a quarterly dividend of 40 cents per share on each common share of beneficial interest. The payment will be made May 31 to holders of record on May 15, 2002.
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