Exhibit 99.1
SELECTED QUARTERLY FINANCIAL INFORMATION
(UNAUDITED)
Selected quarterly information for the years ended December 31, 1999 and
1998 is as follows (in thousands, except per share amounts):
Quarter Ended
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1999 December 31 September 30 June 30 March 31
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Revenues from Rental
Operations $166,155 $160,273 $107,148 $101,987
Revenues from Service
Operations 17,469 15,402 8,893 12,267
Net income available for
common shares 41,184 41,462 29,596 27,394
Basic income per common
share 0.33 0.35 0.33 0.32
Diluted income per common
share 0.32 0.35 0.33 0.32
Weighted average common
shares 125,412 118,820 88,353 86,370
Weighted average common
and dilutive
potential common shares 145,457 138,923 98,855 98,094
Funds From Operations (1) $ 72,017 $ 68,772 $ 48,624 $ 44,860
Cash flow provided by
(used by):
Operating activities $ 84,961 $175,233 $ 50,160 $ 32,326
Investing activities (197,131) (251,822) (150,741) (167,620)
Financing activities 85,653 (50,873) 238,329 163,340
1998
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Revenues from Rental
Operations $ 95,522 $ 90,348 $ 83,079 $ 79,676
Revenues from Service
Operations 5,510 7,284 7,022 4,900
Net income available for
common shares 23,302 23,449 21,858 22,262
Basic income per common
share 0.28 0.29 0.27 0.29
Diluted income per common
share 0.27 0.29 0.27 0.29
Weighted average common
shares 84,394 81,594 80,080 76,655
Weighted average common
and dilutive potential
common shares 96,074 93,279 91,830 88,596
Funds From Operations (1) $ 42,990 $ 39,421 $ 36,933 $ 34,730
Cash flow provided by
(used by):
Operating activities $ 72,079 $ 48,798 $ 61,260 $ 39,051
Investing activities (233,013) (119,313) (242,439) (109,049)
Financing activities 145,851 70,169 174,389 88,814
<TABLE\>
(1) Funds From Operations is defined by the National Association of Real Estate
Investment Trusts as net income or loss, excluding gains or losses from debt
restructuring and sales of depreciated property, plus operating property
depreciation and amortization and adjustments for minority interest and
unconsolidated companies on the same basis. Funds From Operations does not
represent cash flow from operations as defined by generally accepted accounting
principles, should not be considered as an alternative to net income as an
indicator of the Company's operating performance, and is not indicative of cash
available to fund all cash flow needs.