Retail Properties Of America Q4 FFO Rises - Quick Facts

(RTTNews) - Retail Properties of America, Inc. (RPAI) Tuesday said fourth-quarter funds from operations, or FFO, increased to $71.8 million or $0.30 per share from $60.0 million or $0.26 per share in the same period last year.

Operating FFO for the quarter was $70.7 million or $0.30 per share, up from $51.3 million or $0.22 per share in the prior year quarter. On average, five analysts polled by Thomson Reuters expected the company to report FFO of $0.25 per share for the quarter. Analysts' estimates typically exclude special items.

Net income attributable to common shareholders was $34.7 million or $0.15 per share, compared to $13.9 million or $0.06 per share last year.

Revenues totaled $150.72 million, up from $134.96 million last year. Analysts expected revenues of $145.91 million.

Looking ahead to fiscal 2014, the company expects operating FFO of $0.96 per share to $1.00 per share. Analysts currently expect full-year FFO of $0.99 per share.

On February 11, 2014, the Company's Board of Directors declared the first quarter 2014 Series A preferred stock distribution of $0.4375 per preferred share, for the period beginning January 1, 2014, which will be paid on March 31, 2014, to preferred shareholders of record on March 20, 2014.

On February 11, 2014, the Company's Board of Directors also declared the first quarter 2014 quarterly cash dividend of $0.165625 per share on the Company's outstanding Class A common stock. The common dividend will be paid on April 10, 2014, to Class A common shareholders of record on March 28, 2014.