WASHINGTON (dpa-AFX) - Federal Realty Investment Trust (FRT) reported fourth-quarter net income available to common shareholders of $37.55 million or $0.58 per share, up from $30.78 million or $0.48 per share in the comparable quarter last year.
Funds from Operations, of FFO, for the quarter increased to $71.7 million or $1.11 per share, from $62.1 million or $0.97 per share in the same quarter last year.
On average, 15 analysts polled by Thomson Reuters expected the company to earn $1.10 per share for the quarter. Analysts' estimates typically exclude special items
Further, quarterly revenues rose to $156.36 million from $141.46 million a year ago, helped by a spike in rental revenue which increased to $152.36 million from $137.24 million in the year-ago quarter. Nine analysts expected to see revenues of $154.04 million for the quarter.
Looking forward, the company increased its FFO guidance for 2013 to a range between $4.53 and $4.58 per share, reflecting an impact of its acquisition of East Bay Bridge. Also, the company expects per share earnings for the full year in a range of $2.12 to $2.17.
Meanwhile, sixteen analysts currently expect the company to earn $4.56 per share for 2013.
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