Kilroy Realty Corp. (KRC) Wednesday said its funds from operations or FFO rose to $49.81 million from $40.5 million in the same period last year. On a per share basis, quarterly FFO figures touched $0.63, down from $0.66 in the prior year.
Meanwhile net income attributable to common shareholders for the fourth quarter surged to $185.8 million or $2.45 per share from $39.9 million or $0.68 per share in the same year-ago quarter. The impressive result reflected an income of $189.7 million from discontinued operations.
On average, 13 analysts polled by Thomson Reuters expected the company to earn $0.62 per share for the quarter. Analysts' estimates typically exclude special items.
Fourth quarter revenues increased to $103.9 million, up from $88.4 million last year, helped by improved rental income which totaled $101.28 million, up from $83.26 million last year. The Street expected revenues of $102.37 million.
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