Federal Realty had a very strong year and the momentum has carried over into January of 2012 with the signing of some key leases and a continuation of low bad debt type cost. Reported FFO per share for the year was $4 which includes some very significant acquisition expenses tied to the Montrose Crossing and Plaza El Segundo. It still grew 3.1% in 2011 and set an all-time record for Federal as did revenues at $553 million and EBITDA of $354 million. That’s an all-time record better than the heydays of 2006 and 2007 and every other year in our 50-year long history before and since.If you look at our earnings growth without those acquisitions costs, which are closed in late December by the way so there is no offsetting benefit in 2011 for the properties operations, you would see FFO per share growth of 4.4% and again that’s over an all-time high last year.
Federal Realty Investment Trust's CEO Discusses Q4 2011 Results - Earnings Call Transcript
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