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Taubman Centers reiterates its full-year FFO outlook



By AP
23 April 2008 @ 08:35 am EST

BLOOMFIELD HILLS, Mich. - Taubman Centers Inc., a shopping mall real estate investment trust, reaffirmed its 2008 funds from operations outlook after reporting first-quarter funds from operations improved.


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Rusty Hardin, right, attorney for Lakewood Church co-pastor Victoria Osteen, center, and her husband, Joel Osteen, left, give a news conference in the Harris County Civil Courthouse in Houston on Thursday, Aug. 14, 2008 after a jury found that Victoria Osteen had not committed an assault against Continental Airlines flight attendant Sharon Brown. (AP Photo/The Houston Chonicle, Steve Ueckert)
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The company said late Tuesday that it still expects full-year FFO between $3.05 and $3.12 per share.

Analysts surveyed by Thomson Financial predict FFO of $3.08 per share.

Funds from operations, or FFO, which adds such items as amortization and depreciation back to net income, is considered a key measure of REIT strength because it gives a more accurate picture of cash performance.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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