Sovran Self Storage Q2 FFO Rises, Lifts FY13 Outlook - Quick Facts

(RTTNews) - Sovran Self Storage Inc. (SSS) Wednesday reported second-quarter funds from operations, or FFO, of $29.46 million or $0.94 per share, up from $22.42 million or $0.77 per share in the same period last year.

On average, eight analysts polled by Thomson Reuters expected the company to report FFO of $0.90 per share for the quarter. Analysts' estimates typically exclude special items.

Net income available to common shareholders increased to $17.9 million or $0.57 per share from $11.7 million or $0.40 per share last year.

Operating revenues totaled $67.62 million, up from $57.13 million last year. Analysts expected revenues of $64.24 million.

Looking ahead, the company currently projects full-year 2013 FFO in the range of $3.70 to $3.74 per share, up from its previous guidance range of $3.59 to $3.63 per share. Analysts currently expect full-year FFO of $3.61 per share.