Federal Realty InvestmentTrust on May 4 reported year-over-year FFO growth in the first quarterand affirmed its full-year 2016 guidance.
For the first quarter, FFO available for common shareholderstotaled $97.6 million, or $1.38 per share, up 9.5% on a per-share basis from $87.3million, or $1.26 per share, in the year-ago quarter.
Same-center property operating income for the quarter rose 4.2%year over year including redevelopment and expansion properties, and 2.5% excludingredevelopment and expansion properties.
The company's overall portfolio was 94.1% leased as of March31, compared to 95.4% a year earlier. Federal Realty's same-center portfolio was95.6% leased on March 31, compared to 96.2% a year earlier.
The S&P Capital IQ consensus FFO-per-share estimate for thefirst quarter was $1.37.
The company affirmed its full-year 2016 FFO-per-share guidanceof a range of $5.65 to $5.71. The S&P Capital IQ consensus FFO-per-share estimatefor the full year 2016 is $5.70.