Cedar Realty Trust (CDR) Tops Q1 FFO by 10c; Narrows FFO Outlook
Cedar Realty Trust (NYSE: CDR) reported Q1 FFO of $0.14, $0.10 better than the analyst estimate of $0.04. Revenue for the quarter came in at $38.25 million versus the consensus estimate of $38.82 million.
The Company raised the low end of its previously-announced 2016 Operating FFO guidance to a range of $0.54 to $0.56 per diluted share and updated its NAREIT-defined FFO to a range of $0.48 to $0.50 per diluted share. The principal difference in 2016 guidance between Operating FFO and NAREIT-defined FFO is acquisition costs and management transition costs.
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