EXHIBIT 99.1
RECONCILIATION OF 2003 PROJECTED EARNINGS PER SHARE-DILUTED TO PROJECTED FUNDS FROM OPERATIONS PER SHARE-DILUTED (dollars and shares in thousands, except per share data)
|
|
Low |
|
High |
|
||
Net income available to common shareholders |
|
$ |
17,250 |
|
$ |
17,750 |
|
Convertible preferred share dividends |
|
544 |
|
544 |
|
||
Numerator for earnings per share-diluted |
|
17,794 |
|
18,294 |
|
||
Real estate related depreciation and amortization |
|
32,800 |
|
32,800 |
|
||
Restricted common share dividends |
|
332 |
|
332 |
|
||
Minority interests-preferred units |
|
2,288 |
|
2,288 |
|
||
Minority interests-common units |
|
7,046 |
|
7,250 |
|
||
Gain on sales of real estate, excluding development portion |
|
(2,843 |
) |
(2,843 |
) |
||
Numerator for funds from operations per share-diluted |
|
$ |
57,417 |
|
$ |
58,121 |
|
|
|
|
|
|
|
||
Denominator for earnings per share-diluted |
|
25,600 |
|
25,600 |
|
||
Common units |
|
8,990 |
|
8,990 |
|
||
Restricted shares |
|
340 |
|
340 |
|
||
Convertible preferred units |
|
2,421 |
|
2,421 |
|
||
Denominator for funds from operations per share-diluted |
|
37,351 |
|
37,351 |
|
||
|
|
|
|
|
|
||
Earnings per share-diluted |
|
$ |
0.70 |
|
$ |
0.71 |
|
Funds from operations per share-diluted |
|
$ |
1.54 |
|
$ |
1.56 |
|