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Mack-Cali reiterates 2008 FFO guidance, meets estimates

By Associated Press
May 1, 2008 | Comments (0)

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Office real estate investment trust Mack-Cali Realty Corp. on Thursday affirmed its 2008 funds from operations guidance in line with Wall Street's expectations.

The REIT reiterated its 2008 FFO guidance between $3.40 per share and $3.56 per share. On average, analysts polled by Thomson Financial are forecasting $3.52 per share.

FFO, which adds such items as amortization and depreciation back to net income, is considered a key measure of REIT strength because it gives a more accurate picture of cash performance.

Mack-Cali shares added 13 cents to $39.15 in morning trading.

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