Liberty Property Trust FFO/shr Down - Quick Facts

(RTTNews) - Liberty Property Trust(LRY), Tuesday reported a decrease in Funds From Operations or FFO per share for the third-quarter. The results reflected a effects of transactions related to the acquisition of Cabot Industrial Value Fund III Operating Partnership, L.P, and termination fees. The company also said that the issuance of 24.2 million common shares also reduced the third quarter 2013 FFO.

For the three-month period, the company reported FFO of $79.2 million, compared with $77.6 million last year. However, FFO per share reduced to $0.57, from prior year's $0.64. Shares for Funds from operations calculations were about 140.02 million, compared with 121.2 million last year. On average, ten analysts polled by Thomson Reuters expected the company to report earnings per share of $0.62 for the quarter. Analysts' estimates typically exclude one-time items.

Net Income available to common shareholders were $28.6 million, compared with $27.8 million last year. On a per share basis, the earnings were $0.21, compared with $0.24 a year ago.

Total operating revenues increased to $183.3 million, from prior year's $167.6 million. The Street expected the company to generate revenues of $184.95 million.

Looking forward, Liberty expects to report FFO for the fourth quarter in the range of $0.62 - $0.64 per share, and for the full year 2013 in the range of $2.48 - $2.50 per share. Analysts expect the company to report FFO per share of $0.64 for the fourth quarter, and $2.56 for the year.