CBL & Associates Properties Q1 FFO Rises

(RTTNews) - CBL & Associates Properties, Inc. (CBL) Monday reported first-quarter funds from operations of the operating partnership of $146.4 million or $0.73 per share, up from $101.6 million or $0.53 per share last year.

Adjusted FFO allocable to common shareholders for the first quarter was $87.7 million or $0.52 per share. Analysts polled by Thomson Reuters expected FFO of $0.52 per share for the first quarter. Analysts' estimates typically exclude special items.

Net income attributable to common shareholders for the first quarter was $44.1 million or $0.26 per share, compared to $19.1 million or $0.12 per share last year.

Total revenues for the quarter rose to $261.2 million from $258.5 million last year. Analysts estimated revenues of $263.75 million for the quarter.

The company reaffirmed 2014 adjusted FFO outlook of $2.22-$2.26 per share. Analysts currently expect FFO of $2.23 per share for the year.