Sovran Self Storage Q4 FFO Up - Quick Facts

(RTTNews) - Sovran Self Storage Inc. (SSS) Tuesday said fourth-quarter funds from operations, or FFO, increased to $31.33 million or $0.98 per share from $23.42 million or $0.77 per share in the same period last year.

Adjusted FFO for the quarter was $33.51 million or $1.04 per share. On average, 10 analysts polled by Thomson Reuters expected the company to report FFO of $0.96 per share for the quarter. Analysts' estimates typically exclude special items.

Net income available to common shareholders increased to $22.2 million or $0.69 per share from $13.5 million or $0.44 per share last year.

Operating revenues totaled $72.07 million, up from $61.68 million last year. Analysts expected revenues of $71.89 million.

Looking ahead, the management currently projects full-year 2014 FFO in the range of $4.19 to $4.23 per share, with first-quarter FFO ranging between $0.94 and $0.96 per share. Analysts currently expect full-year FFO of $4.12 per share and first-quarter FFO of $0.97 per share.