For the full year ended December 31, 2012, Reported FFO was $222.1 million or $1.83 per share compared to $173.3 million or $1.44 per share for 2011. Reported FFO excludes impairments of operating properties of $0.29 per share in both 2012 and 2011. Recurring FFO for 2012 was $227.7 million or $1.87 per share compared to $217.7 million or $1.81 per share for 2011. Recurring FFO excludes additional impairments of non-operating assets of $0.36 per share in 2011. The increase in Recurring FFO, consistent with the quarter, was primarily due to the Company’s acquisition, disposition and new development programs, improvements in the existing portfolio and reduced interest expense.A reconciliation of net income to both Reported and Recurring FFO is shown on the attached financial statement page and is also shown on page 5 of the supplemental package. The Company has also introduced enhanced disclosure in the supplemental package of Net Debt to Adjusted EBITDA on page 8 and portfolio information found on pages 24-41.
Weingarten Realty Increases Same Property NOI By 5.1% And Increases Dividend By 5.2%
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