DDR Q3 FFO Down

(RTTNews) - DDR Corp. (DDR) reported Monday reported third-quarter funds from operations, or FFO of $89.9 million or $0.28 per share, down from $112.7 million or $0.37 per share last year.

Operating FFO increased to $90.0 million or $0.28 per share, from $82.9 million or $0.27 per share last year. Analysts polled by Thomson Reuters expected FFO of $0.28 per share and revenues of $211.30 million for the quarter. Analysts' estimates typically exclude special items.

Net loss attributable to common shareholders for the three-month period ended September 30, 2013 was $7.0 million, or $0.02 per diluted share, which compares to net income of $13.3 million, or $0.04 per diluted share, for the prior-year comparable period.

Revenues for the quarter rose to $219.4 million from $197.3 million last year. Analysts estimated revenues of $211.30 million for the quarter.

Looking forward to the full year 2013, the company revised its guidance for operating FFO to a range between $1.10 and $1.12 per share from $1.08 to $1.11 per share. Analysts currently estimate FFO of $0.29 per share.