Real estate investment trust Sovran Self Storage Inc. reported fourth-quarter 2006 financial results that are improved over the year before due to strong operating performance and boosts from acquisitions. Funds from operations (FFO)a widely used gauge of real estate operating performance that adds depreciation and amortization expenses back into earningsrose to $15.4 million from $13.2 million in the 2005 period. Quarterly net income rose 8 percent to $8.5 million from $7.9 million in the year-ago period. For the full year, FFO rose almost 16 percent to $58.8 million. Earnings rose 11 percent to $34.1 million from $30.7 million in 2005. For more information, visit www.sovranss.com.
Inside Self-Storage is part of the Informa Markets Division of Informa PLC
This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.