Campus Crest Communities, Inc. (CCG) Tuesday reported an increase in funds from operations for the quarter.
Funds from operations, or FFO, increased to $5.6 million or $0.18 per share from $5.1 million or $0.17 per share in the same period last year.
Adjusted FFO was $5.6 million or $0.18 per share, compared to $5.0 million or $0.16 per share last year.
On average, six analysts polled by Thomson Reuters expected the company to earn $0.18 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues totaled $35.4 million, up from $25 million last year. Analysts expected revenues of $18.12 million.
Looking ahead to the fiscal year 2012, the company lifted its FFO guidance to a range of $0.71 to $0.77 per share from previous guidance range of $0.75 to $0.81 per share.
Analysts currently expect the company to report full year FFO of 0.75 per share.
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