Retail Properties of America (RPAI) Misses Q3 EPS by 19c, Revenues Beat

Retail Properties of America (NYSE: RPAI) reported Q3 EPS of ($0.13), $0.19 worse than the analyst estimate of $0.06. Revenue for the quarter came in at $119.72 million versus the consensus estimate of $118.67 million.

Financial ResultsFor the quarter ended September 30, 2019, the Company reported:

• Net loss attributable to common shareholders of $(28.2) million, or $(0.13) per diluted share, compared to net income attributable to common shareholders of $12.8 million, or $0.06 per diluted share, for the same period in 2018;
• Funds from operations (FFO) attributable to common shareholders of $48.2 million, or $0.23 per diluted share, compared to $53.0 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 $57.0 million, or $0.27 per diluted share, compared to $58.0 million, or $0.26 per diluted share, for the same period in 2018.

"Our team sustained the broad-based execution strength of the first half of the year in the third quarter, once again driving above-plan performance," stated Steve Grimes, chief executive officer. "Our execution remains a top priority as we advance our robust rent-start agenda in the fourth quarter."

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

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