Glimcher Realty Trust Q2 FFO Rises - Quick Facts

(RTTNews) - Glimcher Realty Trust (GRT) Thursday said second-quarter funds from operations, or FFO, increased to $33.4 million or $0.23 per share from $16.6 million or $0.12 per share in the same period last year.

Adjusted FFO for the quarter was $26.6 million or $0.18 per share. On average, 11 analysts polled by Thomson Reuters expected the company to earn $0.16 per share for the quarter. Analysts' estimates typically exclude special items.

Net income available to common shareholders jumped to $29.9 million or $0.21 per share from $15.5 million or $0.11 per share last year.

Revenues totaled $96.7 million, up from $77.1 million last year. Analysts expected revenues of $89.54 million.

Looking ahead to the third quarter, the company has forecast FFO in the range of $0.16 to $0.18 per share, with loss ranging between $0.04 and $0.02 per share. Analysts currently expect full-year FFO of $0.18 per share.

For the fiscal 2013, the company currently projects FFO in the range of $0.68 to $0.72 per share. This compares to the previous guidance range of $0.63 to $0.67 per share. Analysts currently expect full-year FFO of $0.66 per share.