Spirit Realty Capital Q4 FFO Up - Quick Facts

(RTTNews) - Spirit Realty Capital, Inc. (SRC) Thursday said first-quarter funds from operations, or FFO, increased to $74.7 million or $0.20 per share from $21.9 million or $0.14 per share in the same period last year.

Adjusted FFO for the quarter was $74.6 million or $0.20 per share. On average, nine analysts polled by Thomson Reuters expected the company to report FFO of $0.20 per share for the quarter. Analysts' estimates typically exclude special items.

Net income for the quarter was $14.2 million or $0.04 per share, compared to a loss of $8.3 million or $0.05 per share last year. Adjusted earnings for the quarter were $1.8 million or $0.01 per share.

Revenues more than doubled to $144.0 million from $71.0 million last year. Analysts expected revenues of $137.23 million.

Looking ahead to the fiscal 2014, the company has affirmed its previously announced AFFO guidance range of $0.77 to $0.82 per share. Analysts currently expect full-year FFO of $0.80 per share.