Associated Estates Realty Corp. (AEC) reported a fourth-quarter net loss attributable to the company of $2.816 million compared to a loss of $795 thousand last year. Net loss per share applicable to shares was $0.23 compared to profit of $0.02 per share prior year.
Funds from Operations decreased to $4.275 million or $0.26 per share from $7.846 million or $0.48 per share last year.
Adjusted Funds from Operations was $4.275 million compared to $5.700 million prior year. Funds from operations per share as adjusted decreased to $0.26 from $0.35 prior year.
On average, 4 analysts polled by Thomson Reuters expected the company to report profit of $0.26 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenue was $32.415 million compared to $32.926 million a year ago. Analysts expected revenue of $32.01 million for the quarter.
The company said its current FFO expectations for 2010 range between $0.86 to $0.92 per common share.
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