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.

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