Boston Properties Inc. (BXP), one of the leading real estate investment trusts, reported strong fourth quarter 2009 results with FFO (funds from operations) of $146.1 million or $1.04 per share compared to ($0.6) million or ($0.01) per share in the year-earlier quarter. Funds from operations, a widely used metric to gauge the performance of REITs, are obtained after adding depreciation and amortization and other non-cash expenses to net income.

For full fiscal 2009, Boston Properties reported an FFO of $606.3 million or $4.59 per share compared to $403.8 million or $3.33 per share in fiscal 2008. Both the quarterly and fiscal FFO figures missed the Zacks Consensus Estimates by about 2 cents each.