In a conference call, chairman/CEO John Williams said,"Basically, we are stabilizing or shrinking the company goingforward." He expects a real estate downturn and is readying thecompany to weather it. "We will be smaller and more nimble as welook toward a change in the real estate cycle," Williams says.
The REIT anticipates its fully-diluted FFO per share for thethird quarter will be about 94 cents, lower than analysts'projections of $1.01. Fourth-quarter results will also likely belower, in the range of 95 cents to 98 cents per share.
For the year, its FFO will be about $3.70 to $3.76 per share,compared to the 1999 figure of $3.69. The company also expects someimpact in 2001.
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