This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Equity One Reports First Quarter 2012 Operating Results

Equity One, Inc. (NYSE:EQY), an owner, developer, and operator of shopping centers, announced today its financial results for the three months ended March 31, 2012.

Highlights for the quarter and recent activity include:

  • Generated Funds From Operations (FFO) of $0.27 per diluted share for the quarter
  • Generated Recurring FFO of $0.28 per diluted share for the quarter
  • Increased same property net operating income by 4.5% as compared to the first quarter 2011
  • Increased core occupancy to 91.2%, up 50 basis points from December 31, 2011
  • Executed 122 new leases, renewals, and options totaling 446,959 square feet at an average rent spread of 3.5%
  • Acquired or placed under contract three shopping centers located in Fairfield County, Connecticut and one center located in San Francisco, California for a gross purchase price of $189.8 million
  • Entered into a contract to acquire a retail development site in the Bronx, New York from the New York City Economic Development Corporation
  • Sold five non-core assets for $62.1 million
  • Closed a $200 million seven year unsecured term loan with an effective interest rate of 3.46% per annum

“We are pleased with the operating performance of our core business and advancements in our development and redevelopment program,” said Jeff Olson, CEO. “Our results reflect our progress in upgrading and diversifying our portfolio into high density markets including New York, San Francisco, Los Angeles, and Miami.”

Financial Highlights

In the first quarter 2012, the company generated FFO of $33.2 million, or $0.27 per diluted share, as compared to $61.0 million, or $0.52 per diluted share for the same period in 2011. The results for the first quarter of 2011 included a non cash bargain purchase gain of $30.6 million or $0.26 per diluted share related to the acquisition of Capital and Counties, USA.

1 of 9

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,563.30 -317.06 -1.88%
S&P 500 1,930.67 -39.40 -2.00%
NASDAQ 4,369.7730 -93.1290 -2.09%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs