Recurring FFO for the quarter ended June 30, 2012 was $0.47 per share or $57.0 million. For the same quarter last year, Recurring FFO was $0.44 per share or $52.5 million. The increase in Recurring FFO over the prior year was primarily due to increases in net operating income from our existing portfolio and reduced interest expense from favorable debt refinancings. For the six months, Recurring FFO was $113.4 million or $0.93 per share for 2012 compared to $103.0 million or $0.85 per share for 2011, a 9.4% increase.The second quarter 2012 impairment charge of $24.9 million relates to properties being actively marketed for sale including $12.1 million related to properties in industrial joint ventures that the Company anticipates selling before year-end 2012 as part of its strategic disposition of its industrial portfolio. The remainder of the impairment relates to either wholly-owned “secondary” assets or retail assets held in joint ventures where the partners have elected to dispose of specific properties.
Weingarten Realty Increases Funds From Operations Per Share By 6.8%
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