On July 11, AMB Properties
- Funds from operations (FFO) per share increased 62.7%, primarily because of development profits, which will be lumpy in nature.
- Occupancy increased over last year's second-quarter performance by 0.9% to 95.4%.
- Same-store net operating income increased by 3%.
(Figures in thousands, except per-share data)
Income Statement Highlights
Avg. Est. |
Q2 2006 |
Q2 2005 |
Change |
|
---|---|---|---|---|
Sales |
$175,560 |
$180,273 |
$157,808 |
14.2% |
Funds From Operations |
-- |
$82,355 |
$50,622 |
62.7% |
FFO Per Share |
$0.73 |
$0.87 |
$0.55 |
58.2% |
Net Operating Income |
-- |
$124,293 |
$109,590 |
13.4% |
Net Income |
-- |
$72,335 |
$39,006 |
85.4% |
EPS |
-- |
$0.80 |
$0.45 |
77.8% |
Diluted Shares |
-- |
90,135 |
87,076 |
3.5% |
Get back to basics with a look at the income statement.
Balance Sheet Highlights
Assets |
Q2 2006 |
Q2 2005 |
Change |
---|---|---|---|
Investment in Properties |
$7,376,322 |
$6,680,432 |
10.4% |
Prop. Net of Depreciation |
$6,601,794 |
$5,996,753 |
10.1% |
Cash |
$231,912 |
$169,471 |
36.8% |
Liabilities & Equities |
Q2 2006 |
Q2 2005 |
Change |
---|---|---|---|
Total Debt |
$4,041,207 |
$3,560,482 |
13.5% |
Preferred Equity |
$377,824 |
$392,325 |
(3.7%) |
Market Value of Equity |
$4,675,100 |
$3,862,441 |
21.0% |
Learn the ways of the balance sheet.
Ratio Highlights
Q2 2006 |
Q2 2005 |
Change* |
|
---|---|---|---|
Occupancy |
95.4% |
94.5% |
1.0 |
Same-Store |
3.0% |
1.3% |
1.7 |
Total Debt-to-Total Market Cap |
44.4% |
45.6% |
(2.5) |
Related Companies:
- ProLogis
(NYSE:PLD) - First Industrial Realty Trust
(NYSE:FR) - PS Business Parks
(NYSE:PSB) - Monmouth Real Estate Investment Trust
(NASDAQ:MNRTA) - Weingarten Realty Investors
(NYSE:WRI) - Washington REIT
(NYSE:WRE)
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At the time of publication,Nathan Parmelee had no positions in any of the companies mentioned. Fool rules are here.