Glimcher Realty Trust (GRT) Misses Q1 FFO by 1c, Offers Outlook

Glimcher Realty Trust (NYSE: GRT) reported Q1 FFO of $0.16, $0.01 worse than the analyst estimate of $0.17. Revenue for the quarter came in at $93.2 million versus the consensus estimate of $98.85 million.

Glimcher Realty Trust sees FY2014 FFO of $0.74-$0.78, versus the consensus of $0.77.

2014 Outlook

As of the date of this release, the Company maintains previously issued guidance of net income per share to be in the range of $0.03 to $0.07 for the year ending December 31, 2014, and expects FFO per share to be in the range of $0.74 to $0.78 for the year ending December 31, 2014. References to estimated per share amounts are based on diluted common shares. Key assumptions as detailed in our initial guidance remain the same. Due to the uncertainty of the scope, mix of assets involved, pricing and ultimate timing, the dilutive impact of the potential divestures discussed above are not included in the Company’s current 2014 outlook, other than the disposition of Eastland.

A reconciliation of the range of estimated net income per share to estimated FFO per share for 2014 follows:

For the second quarter of 2014, the Company estimates net loss per share to be in the range of $(0.04) to $(0.02) and FFO per share to be in the range of $0.16 to $0.18. A reconciliation of the range of estimated net loss per share to estimated FFO per share for the second quarter of 2014 follows:

This outlook is a forward-looking statement and is subject to the risks and other factors described elsewhere in this release.

For earnings history and earnings-related data on Glimcher Realty Trust (GRT) click here.

You May Also Be Interested In

• CAE, Inc. (CAE) Tops Q1 EPS by 2c, Beats on Revenue; Offers FY27 EPS Guidance
• MaxCyte, Inc. (MXCT) Reports In-Line Q2 EPS
• DeFi Development Corp. (DFDV) Misses Q2 EPS by 78c