Glimcher Realty Trust Q3 FFO Rises

(RTTNews) - Glimcher Realty Trust (GRT) Thursday said third-quarter funds from operations, or FFO, increased to $24.7 million or $0.17 per share from $20.5 million or $0.14 per share in the same period last year.

On average, 11 analysts polled by Thomson Reuters expected the company to earn $0.17 per share for the quarter. Analysts' estimates typically exclude special items.

Adjusted FFO for the quarter was $24.7 million or $0.17 per share, compared to $23.9 million or $0.17 per share in the comparable quarter last year.

Net loss available to common shareholders narrowed to $4.98 million or $0.03 per share from $10.36 million or $0.07 per share last year.

Revenues totaled $94.74 million, up from $87.33 million last year. Analysts expected revenues of $95.14 million.

For the fiscal 2013, the company maintains previously issued guidance assumptions and estimates net income per share to be in the range of $0.07 to $0.09 for the year ending December 31, 2013, and expects FFO per share to be in the range of $0.69 to $0.71 for the year ending December 31, 2013.

Analysts currently expect full-year FFO of $0.71 per share.