Well its been a long long time but we did pass through $20. Looks like FFO definitely will be over $2 this year and that leaves room for continued dividend increases. I get the feeling that future growth comes down to the three blocks in Philly. My guess is that some sort of mix of high end condos, restaurants and more office space will be the plan. Given the government involvement it could take 2-3 years to actually see something through.
With the reduced leverage we should see a higher P/FFO in the future. Its not tough to see a $25 price in another 2 years with a .22 quarterly dividend (they proved me wrong with my penny a year increase, so now I'm guess 2 cents a year). Overall good news.
I think we'll see another dividend increase late in 2013 for 1st qtr. 2014. With 2.00 - 2.10 AFFO in 2013 they can afford to up the .72 to .80 in 2014 if not higher. But you may be right with .88 in 2015. Sure seems too low. Market Street is the biggie but remember they are putting some decent capital into Moorestown. I have been impressed with Joe!