First Industrial Realty Trust Q2 FFO Rises - Quick Facts

(RTTNews) - First Industrial Realty Trust Inc. (FR) Thursday said second-quarter funds from operations, or FFO, increased to $22.87 million or $0.20 per share from $13.69 million or $0.20 per share in the same period last year.

Adjsuted FFO for the quarter was $20.58 million. On average, eight analysts polled by Thomson Reuters expected the company to report FFO of $0.25 per share for the quarter. For the second quarter, the company recorded a profit of $11.12 million, compared to a loss of $9.53 million last year. Profit available to common stockholders and participating securities totaled $5.29 million or $0.05 per share, compared to a loss of $14.33 million or $0.16 per share last year.

Loss from continuing operations narrowed to $2.18 million or $0.07 per share from $12.77 million or $0.19 per share last year.

Revenues increased to $84.69 million from $81.56 million last year. Analysts expected revenues of $84.20 million. Looking ahead, the company currently targets full-year 2013 FFO in the low end of its previous guidance range of $0.91 to $1.01 per share. AFFO is expected tp range between $1.02 and $1.12 per share. Analysts currently expect full-year FFO of $1.02 per share.