* Q4 FFO $0.42/shr vs $0.15/shr year ago
* Sees 2010 FFO of $1.58-$1.70/shr
Feb 24 Real estate investment trust Weingarten
Realty Investors' (WRI.N) fourth-quarter funds from operations
(FFO) jumped more than four fold, helped by a drop in expenses.
For fiscal 2010, the company forecast FFO of $1.58 to $1.70
per share. Analysts on average were expecting FFO of $1.66 per
share, according to Thomson Reuters I/B/E/S.
Fourth-quarter FFO was $51.6 million, or 42 cents a share,
compared with $12.7 million, or 15 cents a share, a year ago.
Excluding items, the company reported FFO of 44 cents a
Analysts were expecting FFO of 41 cents a share.
The commercial real estate owner, manager and developer cut
its total expenses by 40 percent to $89.2 million.
FFO is a key performance measure for real estate investment
trusts, or REITs, because it excludes the profit-reducing
effect of depreciation.
Shares of the Houston-based company closed at $20.34
Wednesday on the New York Stock Exchange.
(Reporting by Fareha Khan in Bangalore; Editing by Maju