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Corrections Corporation of America Message Board

  • mecosmo2 mecosmo2 Dec 15, 1999 9:39 PM Flag

    REITs REPORT DOUBLE-DIGIT EARNINGS G

    REITs REPORT DOUBLE-DIGIT EARNINGS GROWTH IN 3rd
    QUARTER


    Washington, D.C. ---- Quarterly
    earnings reports for real estate investment trusts (REITs)
    and other publicly traded real estate companies
    showed double-digit earnings growth as measured by funds
    from operations (FFO) per share in the third quarter
    of 1999, according to data compiled by the National
    Association of Real Estate Investment Trusts�(NAREIT).


    FFO per share rose 10.3 percent on average in the
    third quarter when compared with the same period last
    year. FFO is the industry's supplemental measure of
    financial performance.

    The third quarter average is
    market weighted and includes data from the earnings
    reports of 188 equity and mortgage REITs plus a number of
    other large publicly traded real estate companies. The
    combined equity market capitalization of all the companies
    at the end of September was $138.1 billion. For all
    companies, 35 percent of the earnings reports exceeded
    analyst expectations. Another 45 percent of the companies
    met analyst expectations, while 20 percent fell
    short. In addition, 44 of the companies reported third
    quarter year-over-year FFO per share growth that exceeded
    15 percent

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