Liberty Property Trust (LRY: Quote) reported that funds from operations available to common shareholders for the second quarter was $76.19 million or $0.63 per share, compared to $82.17 million or $0.69 per share in the same period last year.
On average, 12 analysts polled by Thomson Reuters expected the company to report earnings of $0.63 per share. Analysts' estimates typically exclude special items.
Total operating revenue grew to $169.2 million from $164.43 million a year ago. Analysts expected revenues of $169.93 million.
"Liberty's execution in the second quarter was exceptional on all fronts," said Bill Hankowsky, chairman and chief executive officer. "We took steps to enhance the future profitability of our portfolio through the sale of a significant amount of commodity office space, we leased over five million square feet of space, and we enhanced our already outstanding balance sheet with well-timed capital events."
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by RTT Staff Writer
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