Federal Realty Q4 FFO Rises; Back FY15 FFO View

(RTTNews) - Federal Realty Investment Trust (FRT) reported net income for the fourth quarter of $35.0 million or $0.51 per share, compared to $28.3 million or $0.42 per share for the year-ago quarter.

Funds from operations for the fourth quarter were $77.7 million or $1.13 per share, compared to $68.4 million or $1.03 per share in the prior year quarter.

FFO, excluding early extinguishment of debt, were $1.28 per share, compared to $1.18 per share in the fourth quarter of last year.

Total revenue for the fourth quarter rose to $176.38 million from $163.85 million a year ago.

Analysts polled by Thomson Reuters expected the company to report FFO of $1.22 per share on revenue of $175.27 million for the fourth quarter. Analysts' estimates typically exclude special items.

The company maintained its 2015 guidance for FFO per share of $5.26 to $5.34, and earnings per share of $2.86 to $2.94. Analysts currently expect the company to report FFO of $5.32 per share for the full year 2015.