The Street's consensus, which had also embedded severance charges, stood at $1.11.
Federal increased the lower end of its 2012 FFO per share guidance range to $4.29 to $4.31 from of $4.27 to $4.31.
Guidance assumes lease spreads in the range of 10% to 15%, and 5% same-store net operating income.
Federal also reported increased occupancy as same-store NOI growth remained solid.The company's overall portfolio was 95.1% leased at quarter-end, up 90 basis points from 94.2% leased at the end of the second quarter. Excluding a one-time lease termination fee of $6 million, same-store net operating income on a GAAP basis was up 3.5% (excluding redevelopment and expansion properties), while same-store NOI was up 4.0% including redevelopment and expansion properties.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV