FFO Growth
Funds from operations (FFO) at $2.27 per share, up 6.6% for the quarter over the prior year, continuing a decade-long trend of exceeding prior year's FFO per share.
Leasing Metrics
Quarter-end leasing was 96.7% with occupancy at 95.9%. Quarterly re-leasing spreads were 36% GAAP and 22% cash for leases signed during the quarter.
Cash Same-Store Growth
Cash same-store rose 6.9% for the quarter and 6.2% year-to-date.
Strong Financial Position
Debt to total market capitalization at 14.1%, unadjusted debt to EBITDA ratio of 2.9 times, and interest and fixed charge coverage increased to 17 times.
Acquisitions and Development
Acquired properties in Raleigh, North Carolina, new development land in Orlando, and new buildings and land in Northeast Dallas market.