Retail center operator
boosted its third quarter outlook for funds from operations.
The Jacksonville, Fla.-based company now expects third-quarter FFO of 99 cents to $1.01 a share, up from its earlier forecast of 85 cents to 92 cents a share. Analysts surveyed by Thomson First Call expect FFO of 91 cents a share in the third quarter.
The updated third quarter guidance primarily reflects a favorable impact from earlier than expected transaction profits and higher than expected recognition of profits from the company's captive insurance program, it said.
The company said it will release its third quarter results on Nov. 1 after the market close.
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