Weingarten Realty Investors Q2 FFO Rises - Quick Facts

(RTTNews) - Weingarten Realty Investors (WRI) Wednesday reported second-quarter funds from operations, or FFO, of $46.1 million or $0.37 per share, down from $55.1 million or $0.45 per share in the same period last year.

Recurring FFO for the quarter was $61.4 million or $0.49 per share. On average, 11 analysts polled by Thomson Reuters expected the company to report FFO of $0.47 per share for the quarter. Analysts' estimates typically exclude special items.

Net income attributable to common shareholders increased to $45.4 million or $0.37 per share from $22.6 million or $0.19 per share last year.

Same property net operating income, or SPNOI, grew 5.0 percent for the quarter, primarily due to increased occupancy and a reduction in merchant fallouts.

Revenues increased to $131.58 million from $118.60 million last year. Analysts expected revenues of $132.01 million.

Looking ahead to the fiscal year 2013, the company currently projects recurring FFO in the range of $1.89 to $1.93 per share, up from its previous guidance range of $1.84 to $1.90 per share. Analysts currently expect full-year FFO of $1.90 per share.