Retail Properties of America (RPAI) Tops Q1 EPS by 5c, Revenues Beat; Affirms FY19 EPS Guidance Above Consensus

Retail Properties of America (NYSE: RPAI) reported Q1 EPS of $0.11, $0.05 better than the analyst estimate of $0.06. Revenue for the quarter came in at $122.7 million versus the consensus estimate of $121.77 million.

• Net income attributable to common shareholders of $23.2 million, or $0.11 per diluted share, compared to $41.8 million, or $0.19 per diluted share, for the same period in 2018;
• Funds from operations (FFO) attributable to common shareholders of $57.7 million, or $0.27 per diluted share, compared to $52.8 million, or $0.24 per diluted share, for the same period in 2018; and
• Operating funds from operations (Operating FFO) attributable to common shareholders of $58.4 million, or $0.27 per diluted share, compared to $55.8 million, or $0.25 per diluted share, for the same period in 2018.

"We have started 2019 on strong footing with a retail portfolio percent leased rate of 95.1%, our highest since year-end 2014," stated Steve Grimes, chief executive officer. "Our dedicated team continues to execute on all fronts and we remain focused on delivering our 2019 growth goals."

GUIDANCE:

Retail Properties of America sees FY2019 EPS of $0.35-$0.39, versus the consensus of $0.23.

For earnings history and earnings-related data on Retail Properties of America (RPAI) click here.

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