Parkway Properties Q1 FFO Up - Quick Facts

(RTTNews) - Parkway Properties Inc. (PKY) Monday said first-quarter funds from operations, or FFO, increased to $35.0 million or $0.34 per share from $17.28 million or $0.30 per share in the same period last year.

Recurring FFO for the quarter was $37.8 million or $0.37 per share. On average, 12 analysts polled by Thomson Reuters expected the company to report FFO of $0.31 per share for the quarter. Analysts' estimates typically exclude special items.

Comprehensive income attributable to common stockholders totaled $11.04 million or $0.11 per share, compared to a loss of $3.02 million or $0.07 per share last year.

Revenues totaled $104.11 million, up from $68.17 million last year. Analysts expected revenues of $101.57 million.

Looking ahead to the fiscal 2014, the company has raised its FFO outlook to a range of $1.36 to $1.44 per share from its previous guidance range of $1.32 to $1.40 per share. Analysts currently expect full-year FFO of $1.33 per share.