CBL & Associates Properties Q2 FFO Rises

(RTTNews) - CBL & Associates Properties, Inc. (CBL) Wednesday reported second-quarter funds from operations of $85.1 million or $0.51 per share, compared to $80.0 million or $0.53 per share last year.

Adjusted funds from operations for the quarter were $90.8 million or $0.55 per share. On average, 15 analysts polled by Thomson Reuters expected FFO of $0.53 per share for the quarter. Analysts' estimates typically exclude special items.

Net income for the quarter was $501 thousand or breakeven per share, compared to $18.8 million or $0.12 per share last year.

Total revenues for the quarter rose to $262.4 million from $251.8 million last year. Analysts estimated revenues of $250.29 million for the quarter.

Looking ahead, the company continues to full-year 2013 FFO of $2.18 to $2.26 per share and earnings of $0.63 to $0.71 per share. Analysts currently expect full-year FFO of $2.24 per share.