The company's funds from operations per share increased 15% to 61 cents per diluted share, up from 53 cents in the prior year period. FFO rose 14% to $30.4 million from $26.6 million previously.
For the nine months ended Sept. 30, FFO per share increased 10% to $1.70 per diluted share from $1.54 for the same period last year. FFO increased 11% to $85.7 million for the nine months, up from $77.5 million in third quarter 2001.
Company president/CEO Tom Bell attributes the strong FFO performance to increases in rental property revenue from properties that had been under development but became partially or fully operational. He also credits increases in management fees for the positive third-quarter and nine-month results.
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