Colonial Properties Trust Reports Results for First Quarter 2011

Colonial Properties Trust CLP announced its results for the quarter ended March 31, 2011. For the first quarter 2011, the company reported a net loss available to common shareholders of $11.6 million, or $0.15 per diluted share, compared with a net loss available to common shareholders of $12.3 million, or $0.19 per diluted share, for the same period in 2010. Funds from Operations Available to Common Shareholders and Unitholders ("FFO"), a widely accepted measure of REIT performance, for the first quarter 2011 was $23.3 million, or $0.27 per diluted share, compared with $20.6 million, or $0.28 per diluted share, for the same period in 2010. The increase in the first quarter 2011 FFO is primarily a result of a 5.7 percent increase in multifamily same-property net operating income (“NOI”) and the income derived from the multifamily apartment communities acquired since the first quarter 2010. FFO per share reflects the additional common shares issued under the company's “at-the-market” equity offering programs in 2010 and the first quarter 2011.