Glimcher Realty Trust Q2 FFO Down - Quick Facts

(RTTNews) - Glimcher Realty Trust (GRT) Thursday said second-quarter funds from operations, or FFO, decreased to $26.7 million or $0.18 per share from $33.4 million or $0.23 per share in the same period last year.

Adjusted FFO for the quarter was $26.6 million or $0.18 per share. On average, 11 analysts polled by Thomson Reuters expected the company to report FFO of $0.18 per share for the quarter. Analysts' estimates typically exclude special items.

Second-quarter loss totaled $5.6 million or $0.04 per share, compared to a profit of $29.9 million or $0.21 per share last year.

Revenues increased to $97.9 million from $95.0 million last year. Analysts expected revenues of $97.69 million.

Looking ahead, the company currently projects full-year adjusted FFO in the range of $0.74 to $0.78 per share, with third-quarter adjusted FFO in the order of $0.17 to $0.19 per share. Analysts currently estimate full-year FFO of $0.75 per share and third-quarter FFO of $0.19 per share.