Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

PS Business Parks Q1 FFO Down - Quick Facts

RELATED NEWS
Trade PSB now with 

PS Business Parks Inc. (PSB: Quote) reported that its first-quarter Funds from operations FFO allocable to common and dilutive shares was $31.9 million, or $1.01 per share down from $42.4 million, or $1.32 per share in the year ago quarter.

Funds from operations allocable to common and dilutive shares before non-cash adjustments declined to $37.1 million, or $1.17 per share from $35.0 million, or $1.09 per share last year.

The increase in FFO per common and dilutive share before non-cash adjustments for the latest quarter over the same period in 2011 was primarily due to the increase in net operating income from Non-Same Park facilities partially offset by increases in interest expense, preferred equity distributions and general and administrative expenses.

Net income allocable to common shareholders decreased to $3.5 million, or $0.14 per share, from $16.6 million, or $0.67 per share in the same quarter last year.

The decrease in net income allocable to common shareholders was primarily due to the net impact of preferred equity transactions and increases in interest expense and preferred equity distributions, partially offset by an increase in net operating income.

Total operating revenues increased to $84.89 million from $73.69 million in the year ago quarter.

Analysts polled by Thomson Reuters expected the company to report earnings of $1.00 per share on revenues of $82.90 million for the quarter. Analysts' estimates typically exclude special items.

Register
To receive FREE breaking news email alerts for PS Business Parks and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Computer and printer maker Hewlett-Packard Co. said Tuesday after the markets closed that its fourth quarter profit fell 6% from last year, as revenue declined 2%. The company's quarterly earnings per share, excluding items, came in line with analysts' expectations, but its quarterly revenue fell short of analysts' forecast. This organic and natural products company has experienced strong compounded annual growth over the last four fiscal years with its net sales growing 25% and adjusted income from continuing operations over 30%. Here is a quick summary of the earnings reported after the bell on Nov. 24. 1. Amira Nature Foods Ltd (ANFI) reported net income for the second quarter of $8.3 million or $0.29 per share, compared to $5.0 million or $0.18 per share for the year-ago quarter. Excluding items, adjusted earnings...
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.