For the Three For the Nine
Months Ended Months Ended
Sept. 30, Sept. 30, Sept. 30, Sept. 30,
2008 2007 2008 2007
Net loss $(1,086) $(1,602) $(4,731) $(5,005)
Plus minority interests in
operating partnership (639) (615) (2,480) (2,226)
Plus real estate related
depreciation and
amortization (2) 7,494 7,180 22,896 20,395
Funds from Operations (FFO) (1) 5,769 4,963 15,685 13,164
Plus amortization of intangibles
related to purchase accounting,
net of income tax benefit 2,390 26 5,594 77
Funds from Operations Modified
(FFOM) (1) $8,159 $4,989 $21,279 $13,241
FFO per share and unit - basic
and diluted $0.23 $0.30 $0.68 $0.86
FFOM per share and unit - basic
and diluted $0.33 $0.30 $0.92 $0.86
Weighted average shares and units
outstanding - basic 24,861 16,530 23,067 15,317
Weighted average shares and units
outstanding - diluted 24,993 16,545 23,161 15,335
(1) FFO is a supplemental non-GAAP financial measure used by the real
estate industry to measure the operating performance of real estate
companies. FFOM adds back to traditionally defined FFO non-cash
amortization of non-real estate related intangible assets associated
with purchase accounting. The Company presents FFO and FFOM because
it considers them important supplemental measures of operational
performance. The Co
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