Federal Realty Investment Trust Q2 FFO Tops Estimate

(RTTNews) - Federal Realty Investment Trust (FRT) reported net income for the second quarter of $43.5 million or $0.63 per share, compared to $43.4 million or $0.64 per share for the year-ago quarter.

Funds from operations for the second quarter was $73.9 million, or $1.06 per share, compared to $83.6 million, or $1.23 per share in the prior year quarter.

FFO excluding early extinguishment of debt was $92.9 million or $1.33 per share for the latest quarter.

Total revenue for the second quarter rose to $181.46 million from $167.95 million a year ago.

Analysts polled by Thomson Reuters expected the company to report FFO of $1.30 per share on revenue of $182.24 million for the second quarter. Analysts' estimates typically exclude special items.

For the full year 2015, the company now expects earnings per share of $2.78 to $2.82 and FFO excluding early extinguishment of debt of $5.29 to $5.33 per share. Previously, the company expected earnings per share of $2.75 to $2.83 and FFO excluding early extinguishment of debt of$5.26 to $5.34 per share. Analysts currently expect the company to report FFO of $5.30 per share for the full year 2015.