Duke Realty Corp. (DRE) Wednesday said first-quarter funds from operations, or FFO, increased to $0.24 per share from $0.21 per share in the same period last year.
Core FFO totaled $0.26 per share, compared to $0.24 per share last year.
Adjusted FFO for the quarter was $0.23 per share. On average, 13 analysts polled by Thomson Reuters expected the company to report FFO of $0.26 per share for the quarter. Analysts' estimates typically exclude special items.
For the first quarter, the company recorded a profit of $28.04 million or $0.09 per share, compared to a loss of $36.39 million or $0.14 per share last year.
Income from continuing operations totaled $35.87 million or $0.06 per share , compared to a loss of $22.86 million or $0.16 per share last year.
Revenues improved to $268.67 million from $265.66 million last year. Analysts expected revenues of $223.98 million.
Looking ahead, the company has reaffirmed its Core FFO guidance range of $1.03 to $1.11 per share. Analysts currently expect full-year FFO of $1.08 per share.
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