Glimcher Realty Trust Q4 Loss Widens - Quick Facts

(RTTNews) - Glimcher Realty Trust (GRT) reported that its fourth-quarter net loss to shareholders widened to $49.0 million, or $0.34 per share, from a loss of $24.3 million, or $0.17 per share, prior year. Funds from operations was $27.3 million, or $0.18 per share, for the quarter. Adjusted FFO was $29.7 million, or $0.20 per share.

On average, 12 analysts polled by Thomson Reuters expected the company to report profit per share of $0.20 for the quarter. Analysts' estimates typically exclude special items.

Total revenues increased to $102.8 million, from $91.7 million, a year ago. The company said the increase in total revenues resulted primarily from $8.2 million of revenue from properties acquired during 2013 and $4.3 million of revenue growth from comparable properties. Analysts expected revenue of $100.96 million for the quarter.

The company expects net income per share to be in the range of $0.03 to $0.07 for the year ending December 31, 2014, and expects funds from operations per share to be in the range of $0.74 to $0.78. Analysts expect the company to report fiscal 2014 earnings per share of $0.78.

For the first quarter of 2014, the company estimates loss per share to be in the range of $0.05 to $0.03 and FFO per share to be in the range of $0.15 to $0.17. Analysts expect the company to report first-quarter profit per share of $0.17.