Pennsylvania Real Estate FFO Rises

(RTTNews) - Pennsylvania Real Estate Investment Trust (PEI) Tuesday posted second-quarter funds from operations, or FFO, of $24 million, compared with $20.8 million last year. On a per share basis, FFO was flat at $0.36.

Adjusted FFO for the quarter was $28 million or $0.42 per share, compared with $21.6 million or $0.37 per share a year ago.

Analysts polled by Thomson Reuters estimated FFO or $0.38 per share for the quarter.

Net loss for the quarter was $12.7 million or $0.20 per share, compared with net loss of $13.7 million or $0.25 per share in the prior year. REITs usually include depreciation and other expenses that impact their net earnings.

Total revenues for the quarter grew to $106.4 million from $102 million last year.

For fiscal year 2013, the company now expects FFO of $1.78 to $1.82 per share and adjusted FFO of $1.87 to $1.91 per share. Analysts expect FFO of $1.81 per share.