TIER REIT (TIER) Reports Q2 EPS of $0.08, Updates Outlook

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Price: $33.10 -0.18%

Financial Fact:
Net loss: 547K

Today's EPS Names:
SVBT, ZEO, OTLK, More

TIER REIT (NYSE: TIER) reported Q2 EPS of $0.08, versus ($0.20) reported last year.

2017 Outlook

The Company has updated its 2017 outlook and assumptions, as follows:

2017 Outlook	Revised As Of 1Q’17	Revised As Of 2Q’17
Projected net income per basic & diluted common share	$2.06 - $2.16	$2.08 - $2.12
Adjustments:
Real estate depreciation and amortization	$1.75	$1.80
Gain on sale of depreciable real estate	($2.30)	($2.30)
Projected FFO per diluted common share	$1.51 - $1.61	$1.58 - $1.62
Adjustments:
Gain on debt restructuring / reversal of default interest	($0.14)	($0.14)
Loss on early extinguishment of debt	$0.01	$0.01
Severance charges	-	$0.01
Projected FFO, excluding certain items, per diluted common share	$1.38 - $1.48	$1.46 - $1.50

Assumptions used in 2017 outlook above:
Dispositions of non-target properties	$400mm - $500mm	$400mm - $500mm
Strategic acquisitions	$100mm - $225mm	$215mm
Same store cash NOI growth	2.0% - 3.0%	2.5% - 3.5%
Same store NOI growth	0.0% - 1.0%	1.0% - 2.0%
Straight line rent and lease incentive revenue	$6.5mm - $8.5mm	$7.5mm - $8.5mm
Lease termination fees	$1.0mm - $1.5mm	$0.5mm - $1.0mm
Above- and below-market rent amortization	$4.0mm - $5.0mm	$3.5mm - $4.0mm
General & administrative expenses, excluding certain items	$21.5mm - $22.5mm	$21.0mm - $22.0mm
Year-end occupancy	88.0% - 90.0%	89.0% - 90.0%
Weighted average shares of common stock outstanding	48.1 million	47.7 million

For earnings history and earnings-related data on TIER REIT (TIER) click here.

Earnings

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