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Liberty Property Trust posts 65% YOY rise in Q4'17 FFO

Liberty Property Trust reported 2017 fourth-quarter NAREIT funds from operations available to common shareholders of $102.6 million, or 68 cents per share, a 65.3% rise in the aggregate from $62.0 million, or 41 cents per share, in the fourth quarter of 2016.

NAREIT is the U.S.-based trade association for real estate investment trusts and publicly traded real estate companies.

For the fourth quarter, total operating revenue came in at $192.8 million, a rise of 13.6% from $169.7 million in the comparable 2016 period.

The industrial and office-focused REIT posted a 9.5% year-over-year gain in NAREIT FFO for the full year. In the aggregate, results totaled $390.6 million, or $2.59 per share, compared with $356.9 million, or $2.37 per share. Full-year operating revenue came in at $719.8 million, a rise of 1.26% from $710.7 million in 2016.

The S&P Capital IQ consensus FFO estimate for the quarter was 65 cents per share. For the full year, the S&P Capital IQ consensus estimate for FFO was $2.55 per share.

Liberty Property Trust expects NAREIT FFO per share in the range of $2.53 to $2.65 for full year 2018.

The S&P Capital IQ consensus FFO-per-share estimate for full year 2018 is $2.61.