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Brookfield Properties 1Q Results Improves Slightly

Stock quotes in this article: BPO , TGT  

NEW YORK (AP) — Brookfield Properties Corp., a real estate investment trust, said Friday that its first-quarter funds from operations improved slightly on some new leases and lease renewals.

For the period ended March 31, funds from operations edged up to $127 million, or 32 cents per share. That compares with $126 million, or 32 cents per share, a year earlier.

Funds from operations, a widely used gauge of real estate operating performance, adds depreciation and amortization expenses, as well as other non-operating items, to net income. ...

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