First Industrial Realty Trust Inc. (FR) Thursday said first-quarter funds from operations, or FFO, improved to $25.59 million from $23.37 million last year. On a per-unit basis, FFO dropped to $0.24 from $0.25 last year.
Adjusted FFO for the quarter was $17.64 million. On average, six analysts polled by Thomson Reuters expected the company to earn $0.26 per share for the quarter. Analysts' estimates typically exclude speica items.
For the quarter, the company reported a loss of $903 thousand, compared to a profit of $1.26 million last year.
Net Loss available to company stockholders and participating securities widened to $4.74 million from $3.50 million last year.
Revenues totaled $83.27 million, up from $80.20 million last year. Analysts expected revenues of $65.82 million.
Looking ahead to the fiscal year 2013, the company has forecast FFO in a range of $0.96 to $1.06 per share, with AFFO ranging between $1.01 and $1.11 per share. Analysts expect full-year FFO of $1.04 per share.
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