Pennsylvania REIT Q4 FFO Up - Quick Facts

(RTTNews) - Pennsylvania Real Estate Investment Trust (PEI) Tuesday said fourth-quarter funds from operations, or FFO, increased to $41.7 million or $0.59 per share from $29.7 million or $0.51 per share in the same period last year. Adjusted FFO for the quarter was $41.7 million or $0.59 per share. On average, seven analysts polled by Thomson Reuters expected the company to report FFO of $0.58 per share for the quarter. Analysts' estimates typically exclude special items.

Fourth-quarter profit amounted to $7.8 million or $0.05 per share, compared to a loss of $6.9 million or $0.19 per share last year.

Revenues increased to $119.40 million from $113.74 million last year. Base rent totaled $75.51 million, compared to $73.25 million last year. Analysts expected revenues of $73.37 million.

Looking ahead to the fiscal 2014, the company has forecast FFO in the order of $2.01 to $2.06 per share. Analysts currently expect full-year FFO of $1.96 per share.