Douglas Emmett Q2 FFO Rises

(RTTNews) - Douglas Emmett Inc (DEI) Thursday reported second-quarter funds from operations of $70.75 million or $0.40 per share, up from $67.70 million or $0.39 per share last year.

On average, 15 analysts polled by Thomson Reuters expected the company to report FFO of $0.39 per share for the quarter. Analysts' estimates typically exclude special items.

Net income for the quarter was $13.36 million or $0.09 per share, compared to $13.6 million or $0.09 per share last year.

Total revenues for the quarter grew to $151.4 million from $148.7 million last year. Analysts had a consensus revenue estimate of $151.57 million for the quarter.

Looking forward to the full year 2014, the company now expects FFO of $1.58 to $1.62 per share and adjusted FFO of $1.19 to $1.23 per share. Analysts currently estimate FFO of $1.60 per share for the year.

Earlier, the company expected full-year FFO of $1.57 to $1.63 per share and adjusted FFO of $1.18 to $1.24 per share.