Retail Properties Of America Q1 FFO Up - Quick Facts

(RTTNews) - Retail Properties of America, Inc. (RPAI) Monday said first-quarter funds from operations, or FFO, increased to $65.7 million or $0.28 per share from $43.2 million or $0.19 per share in the same period last year.

On average, five analysts polled by Thomson Reuters expected the company to report FFO of $0.24 per share for the quarter. Analysts' estimates typically exclude special items.

Net income for the quarter was $11.8 million or $0.05 per share, compared to a loss of $4.2 million or $0.02 per share last year.

Revenues increased to $148.79 million from $132.06 million last year. Looking ahead to the fiscal 2014, the company has raised its operating FFO outlook to a range of $0.99 to $1.03 per share from its previous guidance range of $0.96 to $1.00 per share. Analysts currently expect full-year FFO of $0.97 per share.