Across the board, the numbers tell the same story, the executives pointed out. During the final quarter of '05, FFO was $.78 per-diluted share, compared to $.70 in the fourth quarter of '04. For 2005, FFO was $3.06, and earnings were $1.94, overshadowing 2004's $2.85 and $1.41.
Net income available for common shareholders was $32.3 million for the last three months of 2005, and $103.1 million for the year; those number in 2004 were $19 million and $72.7 million, respectively.
Additionally, Federal Realty's portfolio's leasing increased to 96.3% by yearend 2005 from 95.1% at yearend '04. Operating income, taking into consideration redevelopments and expansions, went up 6.1%.
"Our continued strong internal growth, as well as a significant pipeline of redevelopment opportunities, provides the foundation for Federal Realty to produce consistent and reliable growth in earnings in 2006 and beyond," said company president and CEO Donald C. Wood in a prepared statement. During the conference, he added that, "Santana Row on the West Coast and now Assembly Square on the East Coast, along with several other underutilized properties that we control, rise above all others in terms of significant value creation yet to be extracted."
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
