Liberty Property Trust (LPT) Reports Q1 EPS of $0.95; Boosts FY18 EPS Mid-Point Outlook

Liberty Property Trust (NYSE: LPT) reported Q1 EPS of $0.95, versus $0.33 reported last year.

Highlights for First Quarter 2018

• Net income available to common shareholders $0.95 per diluted share
• NAREIT Funds from Operations $0.65 per diluted share
• Same store operating income for the industrial portfolio increased by 5.0% over prior year quarter on GAAP basis and 7.0% on cash basis
• Portfolio occupancy 96.7% at quarter-end
• Industrial rents increased 12.4% on GAAP and 7.9% on cash basis
• $223.4 million in developments delivered
• $133.8 million in development starts
• $90.9 million in asset acquisitions
• $190.8 million in asset dispositions totaling 1.5 million square feet

Earnings Guidance

• Liberty increased U.S. GAAP net income available to common shareholders per diluted share guidance range for 2018 to be $3.07 - $3.88 from a previous range of $3.05 - $3.88
• Liberty increased NAREIT Funds from Operations per diluted share guidance range for 2018 to be $2.55 - $2.65 from a previous range of $2.53 - $2.65

For earnings history and earnings-related data on Liberty Property Trust (LPT) click here.

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