Weingarten Realty Q3 FFO Rises

(RTTNews) - Weingarten Realty (WRI) Thursday reported third-quarter funds from operations of $64.8 million or $0.52 per share, up from $60.5 million or $0.49 per share last year.

Recurring FFO for the quarter was $0.53 per share, up from $0.51 per share last year.

Net income rose to $97.6 million or $0.79 per share from $57.8 million or $0.47 per share last year.

Total revenues for the quarter rose to $130.5 million from $123.3 million last year.

Analysts polled by Thomson Reuters expected the company to report FFO of $0.50 per share on revenues of $121.17 million for the quarter. Analysts' estimates typically exclude special items.

The company raised its recurring FFO guidance to a range of $2.01 to $2.03 per share from a range $1.95 to $2.01 per share. Analysts currently estimate FFO of $2.01 per share for the year.

The company declared a quarterly cash dividend of $0.325 per share payable on December 15 to shareholders of record on December 8.