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ATLANTA (AP) -- Real estate investment trust Cousins Properties Inc. said Monday results improved as revenue increased, but those results still missed analyst expectations as the U.S. housing market continued to sag. Funds from operations, or FFO, available to common shareholders rose to $7.3 million, or 14 cents per share, from a loss of $1.6 million, or 3 cents per share, in the prior-year quarter. Analysts polled by Thomson Financial predicted FFO of 25 cents per share. FFO, a widely used gauge of real estate operating performance, adds depreciation and amortization expense, as well as other non-operating items, back to net income. Revenue rose 41 percent to $46.2 million from $32.8 million in the quarter. Net income available to common shareholders fell 96 percent to $7.8 million, or 15 cents per share, from $174.5 million, or $3.33 per share. Year-ago results include a $188.4 million gain on the sale of two operating properties.
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