“I am extremely pleased with the results of our capital recycling program this quarter. Our very active disposition program generated more than sufficient capital to complete these high quality investments, which are great additions to our already strong portfolio,” said Drew Alexander, President and Chief Executive Officer.
The Company is increasing Recurring FFO guidance and revising certain other guidance metrics as follows:
|Recurring FFO Per Diluted Share||$1.84 - $1.90||$1.89 - $1.93|
|Same Property NOI||+2% to +3%||+3% to +3.5%|
|Acquisitions||$175-$225 million||$100-$150 million|
|New Development||$25-$75 million||$15-$50 million|
|Dispositions||$200 - $300 million||$250 - $350 million|
DividendsThe Board of Trust Managers declared a quarterly cash dividend of $0.305 per common share payable on September 13, 2013 to shareholders of record on September 5, 2013.