Killam Properties, Inc. of Halifax, Nova Scotia, Canada, in announcing its financials for Q1, 2014, reports while property revenue rose to $35,065,000 in 2014 from $33,249,000 in the same period of 2013, net operating income fell -3.0 percent from $18,166,000 in the first quarter of 2013 to $17,620,000 in the comparable period of 2014. Funds from operations (FFO) dropped from $0.15 per share in Q1 2013 to $0.13 per share for Q1 2014, as MHProNews.com has learned from wsj.com. Revenue growth was attributed to higher rental rates, but the severe winter weather resulted in more consumption of, and higher prices for, natural gas. In addition, Killam completed $19.5 million in acquisitions during the first quarter of 2014. Killam is one of the largest owners of manufactured housing communities in Canada. ##
