Retail Properties Of America Q2 Profit Rises; Lifts 2014 Operating FFO Guidance

(RTTNews) - Retail Properties of America, Inc. (RPAI) reported that its second-quarter net income attributable to shareholders increased to $27.7 million, or $0.12 per share, from $13.6 million, or $0.06 per share, prior year. Funds from operations was $63.8 million, or $0.27 per share, compared to $88.2 million, or $0.38 per share, last year. Operating FFO was $65.7 million, or $0.28 per share, for the quarter.

On average, five analysts polled by Thomson Reuters expected the company to report profit per share of $0.25 for the quarter. Analysts' estimates typically exclude special items.

Total revenues increased to $146.31 million from $132.32 million, prior year. Analysts expected revenue of $145.12 million for the quarter. The company increased its 2014 operating FFO guidance to a range of $1.04 to $1.07 per share from $0.99 to $1.03 per share. The company maintained 2014 same store NOI growth guidance of 2.0% to 3.0%. Analysts expect the company to report 2014 profit per share of $1.02.