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REIT Parkway Properties Posts Higher 1Q Results

Stock quotes in this article: PKY  

ALEX VEIGA

Real estate investment trust Parkway Properties Inc. said Wednesday its first-quarter funds from operations improved by 10.5 percent as an increase in average rents helped drive revenue higher for the office space owner.

For the quarter ended March 31, funds from operations, or FFO, rose to $15.9 million, or $1.05 a share, from $14.3 million, or 95 cents a share, in the prior-year quarter.

FFO, which adds items such as amortization and depreciation back to net income, is considered a key measure of REIT strength. ...

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