Equity One FFO Rises; Lifts Lower End Of FY Recurring FFO Guidance

(RTTNews) - Equity One Inc (EQY), a developer of shopping centers, Wednesday reported second-quarter funds from operations to stockholders of $41.4 million or $0.32 per share, compared with $36.8 million or $0.28 per share last year.

Analysts polled by Thomson Reuters projected FFO of $0.30 per share for the quarter. Analysts' estimates typically exclude special items.

The company's net loss to for the quarter was $2.4 million or $0.02 per share, compared with net income of $33.6 million or $0.28 per share a year ago. Real estate investment trusts usually include depreciation and other items in their net results that usually reduce earnings.

Revenue for the quarter was $87.4 million, compared with $81.7 million in the prior year.

Analysts projected revenue of $88.4 million for the quarter.

For fiscal 2014, the company expects FFO of $1.23 to $1.25 per share; recurring FFO is now expected between $1.25 and $1.28 per share, from prior guidance of $1.23 and $1.28 per share.

Analysts project FFO of $1.27 per share for the year.