Liberty Property Backs FY13 FFO View

(RTTNews) - Liberty Property Trust (LRY) Tuesday reaffirmed its funds from operations, or FFO per share outlook for full-year 2013, and issued FFO per share guidance for the year 2014.

For 2013, Liberty still expects to report FFO per share in the range of $2.48 - $2.50. The company sees net income per share to be between $1.37 and $1.39.

On average, 10 analysts polled by Thomson Reuters expect the company to report FFO of $2.49 per share for the year. Analysts' estimates typically exclude special items.

For the year 2014, FFO per share is expected to be in the range of $2.45 - $2.55. Analysts are looking for FFO per share of $2.48 for 2014.

Commenting on the guidance, Chief Executive Officer Bill Hankowsky said, "In the last six months of 2013, Liberty engaged in substantial transactions that altered the composition of our portfolio. This activity has brought us to our desired place - we are now a company primarily focused on industrial real estate. This activity also gives us the potential for significant growth beginning in the latter half of 2014 and moving into 2015."