DDR FFO Per Share Increases By 11.7% for 2nd Quarter 1997 as Compared to 2nd Quarter 1996.
Business Wire › August 06, 1997
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DDR FFO Per Share Increases By 11.7% for 2nd Quarter 1997 as Compared to 2nd Quarter 1996.
CLEVELAND--(BUSINESS WIRE)--Aug. 6, 1997--Developers Diversified Realty Corporation (NYSE:DDR) announces second quarter Funds From Operations ("FFO"), a widely accepted measure of REIT performance, grew 30.5% to $21.6 million, or $0.86 per share for the second quarter of 1997, an 11.7% increase on a per share basis over second quarter 1996 FFO of $16.5 million or $0.77 per share. Net income was $15.9 million or $0.49 per share for the second quarter of 1997, an increase of 11.4% on a per share basis over 1996 net income of $13.1 million or $0.44 per share.
FFO for the six months ended June 30, 1997 grew 30.9% to $40.7 million or $1.64 per share, an increase of 8.6% on a per share basis over the six month period ended June 30, 1996 FFO of $31.1 million or $1.51 per share. Net income for the six months ended June 30, 1997 was $33.5 million, or $1.06 per share, as compared to $24.3 million or $0.83 per share in 1996. Commenti...See the full content of this document
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