The quarterly Funds From Operations (FFO) rose 8.5 per cent, partly from merger of real estate company Developers Diversified, with Inland Retail Real Estate Trust.
The increase was reported by Developers Diversified which owns shopping centers dominated by big box and department stores.
Developers Diversified reported third-quarter FFO available to shareholders — a real estate investment trust performance measure — of $99.5 million, or 80 cents per share, versus $91.7 million, or 83 cents per share a year earlier.
There were 14 million more shares in the third quarter 2007 than a year earlier.
The most recent quarter’s result beat analysts’ average estimate of 79 cents per share, according to Reuters Estimates.
