WASHINGTON (dpa-AFX) - Associated Estates Realty Corp. (AEC) Tuesday said first-quarter funds from operations, or FFO, improved to $15.59 million or $0.31 per share from $10.67 million or $0.25 per share in the same period last year.
Adjusted FFO for the period was $15.59 million or $0.31 per share. On average, eight analysts polled by Thomson Reuters expected the company to earn $0.32 per share for the quarter. Analysts' estimates typically exclude special items.
Net income applicable to common shares totaled $10.3 million or $0.20 per share, compared to a loss of $2.1 million or $0.05 per share last year.
Revenues increased to $44.99 million from $38.21 million last year. Analysts expected revenues of $46.31 million.
Looking ahead, the company has reaffirmed its full year adjusted FFO outlook range of $1.29 to $1.33 per share. Analysts currently expect full-year FFO of $1.32 per share.
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