CBL& Associates Q3 FFO Rises, Lifts 2014 Outlook - Quick Facts

(RTTNews) - CBL & Associates Properties, Inc. (CBL) reported third-quarter funds from operations of the operating partnership of $125.86 million or $0.63 per share, up from $110.71 million or $0.56 per share last year.

Adjusted FFO for the quarter was $0.55 per share, compared to $0.52 per share in the same period last year.

On average, 15 analysts polled by Thomson Reuters expected FFO of $0.54 per share for the quarter. Analysts' estimates typically exclude special items.

Net income attributable to common shareholders for the third quarter was $38.12 million or $0.22 per share, up from $23.10 million or $0.14 per share in the same period last year.

Total revenues for the quarter grew to $169.10 million from $167.70 million last year. Analysts estimated revenues of $251.05 million for the quarter.

Same-Center NOI Growth was 3.0 percent in the Total portfolio and 3.3 percent in the Mall Portfolio.

Looking ahead to fiscal 2014, the company raised its outlook for adjusted FFO to a range of $2.24 to $2.28 per share from the prior range of $2.22 to $2.26 per share. Analysts currently expect FFO of $2.23 per share for the year.