Colonial Properties Trust (NYSE:CLP) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.87%.
Colonial Properties Trust Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 13.33% to $0.34 in the quarter versus EPS of $0.30 in the year-earlier quarter.
Revenue: Rose 3.24% to $103.88 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Colonial Properties Trust reported adjusted EPS income of $0.34 per share. By that measure, the company missed the mean analyst estimate of $0.34. It beat the average revenue estimate of $101.95 million.
Quoting Management: Thomas H. Lowder, Chairman and Chief Executive Officer, noted, “Simplified and stronger best describe the company and the progress we have made over the past few years. We now have over 90 percent of our total net operating income being generated from multifamily apartment communities, and our same property portfolio continues to deliver solid results. Our multifamily development pipeline is creating significant value for our shareholders, while the disposition of our commercial assets continues to strengthen our balance sheet and simplify the company.”
Key Stats (on next page)…