Funds from operations per share rose 8% to 70 cents, up from 65cents for the same period in 1999. FFO increased 9% to $23.2million in the quarter, from $21.3 million the previous year.
For the six months ended June 30, FFO per share jumped 11% to$1.36, up from $1.22 for the comparable 1999 period. FFO rose 13%to $44.9 million, compared to $39.7 million last year.The REITcurrently has $564 million of projects under development and added$51 million during the second quarter, including its new projectsin Austin, TX, its first entry into that market.
REITs have won favor from investors recently. As technologystocks become increasingly volatile, investors are sinking dollarsinto bricks and mortar. Cousins closed July 31 at a 52-week high of$43.63.
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