Weingarten Realty Investors Q3 FFO Up - Quick Facts

(RTTNews) - Weingarten Realty Investors (WRI) Thursday said third-quarter funds from operations or FFO increased to $60.5 million or $0.49 per share from $55.5 million or $0.45 per share in the same period last year.

Recurring FFO for the quarter was $63.3 million or $0.51 per share. On average, 12 analysts polled by Thomson Reuters expected the company to report FFO of $0.48 per share for the quarter. Analysts' estimates typically exclude special items.

Net income attributable to common shareholders increased to $57.8 million or $0.47 per share from $31.4 million or $0.26 per share last year.

Revenues increased to $130.67 million from $122.32 million last year. Analysts expected revenues of $127.62 million.

With respect to the 2013 guidance, the company has raised its recurring FFO outlook to a range of $1.93 to $1.95 per share from its previous guidance range of $1.89 to $1.93 per share. Analysts currently expect full-year 2013 FFO of $1.88 per share.

Recurring FFO for the fiscal 2014 is expected to range between $1.95 and $2.01 per share. Analysts currently expect FFO of $2.01 per share for 2014.