-
FFO
of $1.08 per diluted share for 4Q07 compared to $1.03 in 4Q06
-
FFO
of $4.00 per diluted share for the year ended December 31, 2007 compared to $4.10
for same period of
2006
-
Same Store GAAP NOI increase of $337,000 or 1.2% for 4Q07 compared
to 4Q06; $4.3
million or 4.3% for the year ended December 31, 2007 compared to
the same period pf 2006
-
Same Store Cash NOI increase of $460,000 or 1.7% for 4Q07 compared
to 4Q06;
$6.7 million or 6.9% for the year ended December 31, 2007
compared to the same period of 2006
|
|
 |
|
The following items contributed to FFO
(In thousands except percentages) |
|
|
|
|
|
4Q07 |
4Q06 |
2007 |
2006 |
|
|
Lease termination fees (Parkway's share) |
$
796 |
$
29 |
$
1,412 |
$
617 |
|
|
Straight line rent (Parkway's share) |
1,066 |
1,262 |
2,297 |
4,656 |
|
|
Amortization of above market rent (Parkway's share) |
(257) |
(407) |
(1,269) |
(1,467) |
|
|
Gain (loss) on land and securities |
- |
- |
47 |
(119) |
|
|
Prepayment expense on extinguishment of debt |
- |
- |
(370) |
(325) |
|
|
Incentive and management fees earned on Viad sale |
- |
- |
27 |
4,218 |
|
|
Average Occupancy |
92.3% |
91.3% |
91.6% |
90.2% |
|
|
|
Quarterly Same Store Results
(In
thousands except percentages) |
|
|
|
|
4Q07 |
4Q06 |
$ Change |
% Change |
|
|
Revenue |
$ 55,090 |
$ 53,963 |
$ 1,127 |
2.1% |
|
|
Above market lease amortization |
336 |
428 |
(92) |
-21.5% |
|
|
Straight line rent |
(1,025) |
(1,294) |
269 |
-20.8% |
|
|
Lease termination fees |
(697) |
(27) |
(670) |
2481.5% |
|
|
Revenue after adjustments |
$ 53,704 |
$
53,070 |
$
634 |
1.2% |
|
|
Expenses |
25,328 |
24,387 |
941 |
3.9% |
|
|
Net operating income |
$
28,376 |
$
28,683 |
$
(307) |
-1.1% |
|
|
Net operating income - Parkway Share |
$ 27,492 |
$ 27,702 |
$
(210) |
-0.8% |
|
|
|
Year to Date Same Store Results
(In
thousands except percentages) |
|
|
|
|
2007 |
2006 |
$ Change |
% Change |
|
|
Revenue |
$ 199,312 |
$ 194,438 |
$
4,874 |
2.5% |
|
|
Above market lease amortization |
1,097 |
1,435 |
(338) |
-23.6% |
|
|
Straight line rent |
(2,062) |
(5,049) |
2,987 |
-59,2% |
|
|
Lease termination fees |
(1,157) |
(562) |
(595) |
105.9% |
|
|
Revenue after adjustments |
$ 197,190 |
$ 190,262 |
$
6,928 |
3.6% |
|
|
Expenses |
92,166 |
91,419 |
747 |
0.8% |
|
|
Net operating income |
$
105,024 |
$
98,843 |
$
6,181 |
6.3% |
|
|
Net operating income - Parkway Share |
$ 102,136 |
$ 96,075 |
$ 6,061 |
6.3% |
|
|