Retail Properties Of America Q3 FFO Tops Estimate

(RTTNews) - Retail Properties of America, Inc. (RPAI) reported a net loss for the third quarter of $29.1 million, or $0.12 per share, compared to a net loss of $39.9 million or $0.17 per share for the year-ago quarter.

Funds From Operations for the third quarter was $65.0 million or $0.28 per share, compared to $63.4 million or $0.27 per share in the prior year quarter.

Operating Funds From Operations for the third quarter was $65.7 million or $0.28 per share, compared to $63.3 million or $0.27 per share for the same quarter last year.

Total revenue for the third quarter rose to $151.40 million from $136.13 million a year earlier.

Analysts polled by Thomson Reuters expected the company to report FFO of $0.25 per share on revenue of $149.81 million for the third quarter. Analysts' estimates typically exclude special items.

The company raised its 2014 Operating FFO guidance to a range of $1.07 to $1.09 per share from its prior guidance of $1.04 to $1.07 per share. Analysts currently expect the company to report FFO of $1.06 per share for the full year 2014.