CONTENTS

PRINT THIS STORY:

CHANGE TEXT SIZE:

 

 

Source: Salomon Smith Barney.

The Retail REIT Index was designed by Salomon Smith Barney for SCT. Starting this month, it will be calculated using total returns (including dividends) rather than solely stock price movements. A total return index more accurately reflects the true performance of REITs, given that dividends comprise a substantial portion on the overall return. The stock price movements were calculated starting at a base of 100 on Dec. 31, 1995. For the period ending Nov. 30, the regional mall index is at 153.15, up 1.5%; the strip center index (including power, neighborhood and community centers) is at 155.45, up 1.2%; and the factory outlet index is at 98.16, up 6%. The index is updated monthly.

(a) Excludes gains on sales of land and outparcels. (b) 3Q and YTD 1999 excludes one-time restructuring costs. (c) 3Q 00 includes lease termination income of $0.01 per share. 3Q 99 excludes settlement of litigation and tenant bankruptcy claims of $0.04 per share. (d) Excludes severance, litigation and restructuring fees, FFO fell 13.8% to $0.25 per share this quarter from $0.29 per share in third quarter 1999. (e) 3Q 00 includes $1.1 million non-recurring lease termination fee and $380,000 nonrecurring expense. (f) 3Q 99 restated to includes $1 million in nonrecurring lease termination fees. (g) YTD excludes $1 million in non-recurring lease termination fees and excludes gains on sales of land and outparcels. (h) Excludes gains on sales of land and outparcels. (i) Excludes nonrecurring charges. (j) FFO for first nine months includes nonrecurring charges related to executives resignations of $3.7 million (2000) and $8.5 million (1999).
SOURCE: Salomon Smith Barney Real Estate Research; Company Reports