Equity One Inc. (NYSE:EQY) reported results for the second quarter. Equity One, Inc. operates as a self-managed real estate investment trust which mainly acquires, renovates, develops and manages neighborhood and community shopping centers anchored by leading supermarkets, drug stores or discount retail store chains.

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Equity One Earnings Cheat Sheet for the Second Quarter

Results: Funds from Operations (FFO) rose 46.3% to $33.8 million or 28 cents per share from $23.1 million or 25 cents per share a year earlier.

Revenue: Rose 23% to $88.3 million from the year earlier quarter.

Actual vs. Wall St. Expectations: EQY beat the mean analyst estimate of 27 cents per share. It beat the average revenue estimate of $85.9 million.

Quoting Management: “We are very pleased with our strong growth in earnings driven by improving fundamentals and the accretive impact of our recent acquisitions,” said Jeff Olson, Chief Executive Officer of Equity One. “We are proud of the progress we have made in upgrading and diversifying the quality of our portfolio through strategic acquisitions and dispositions.”

Key Stats:

The company beat estimates last quarter after being in line with expectations in the first quarter with FFO of 28 cents per share.

Competitors to Watch: Kimco Realty Corporation (NYSE:KIM), Glimcher Realty Trust (NYSE:GRT), Cedar Shopping Centers Inc (NYSE:CDR), Inland Real Estate Corp. (NYSE:IRC), The Macerich Company (NYSE:MAC), Agree Realty Corporation (NYSE:ADC), Urstadt Biddle Properties Inc. (NYSE:UBA), Ramco-Gershenson Properties Trust (NYSE:RPT), Federal Realty Inv. Trust (NYSE:FRT), and Alexander’s, Inc. (NYSE:ALX).

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(Source: Xignite Financials)

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