EastGroup Properties Q3 FFO Rises - Quick Facts

(RTTNews) - EastGroup Properties Inc. (EGP) Thursday said third-quarter funds from operations, or FFO, increased to $25.3 million or $0.83 per share from $22.2 million or $0.76 per share in the comparable quarter last year.

Net Income attributable to common stockholders dropped to $8.4 million or $0.28 per share from $6.77 million or $0.29 per share last year.

Property net operating income, or PNOI, increased 10.6 per share.

Revenues totaled $51.25 million, up from $46.70 million last year. Analysts expected revenues of $49.99 per share. Looking ahead, the company's FFO is expected to range between $3.22 and $3.24 per share. The mid-point was increased from $3.20 to $3.23 per share, and the range was narrowed. Diluted EPS for 2013 is estimated to be in the range of $1.04 to $1.06. Analysts currently expect the company to report full-year FFO of $3.21 per share.

For the fourth-quarter, the company has forecast FFO in a range of $0.82 to $0.84 per share, with earnings in the order of $0.27 to $0.29 per share. Analysts, based on consensus, currently expect the company to earn $0.83 per share for the quarter.