Douglas Emmett Inc (DEI) reported that its first-quarter funds from operations or FFO was $64.1 million or $0.37 per share, compared to $59.9 million or $0.35 per share in the year ago quarter.
Adjusted funds from operations or AFFO for the quarter rose to $50.1 million or $0.29 per share from $41.1 million or $0.24 per share in the prior year period.
GAAP net income attributable to common stockholders was $12.1 million or $0.08 per share, down from $5.4 million, or $0.04 per share in the comparable quarter last year.
Total revenues for the quarter rose to $145.46 million from $143.39 million in the prior year quarter.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.35 per share on revenues of $142.91 million. Analysts' estimates typically exclude special items.
Douglas Emmett is adjusting its full year 2013 FFO guidance to $1.43 to $1.49 per share. Earlier, the company expected 2013 FFO in the range of $1.39 to $1.45 per share. Analysts expect the company to report earnings of $1.42 per share for fiscal 2013.
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