MIAMI—Shopping mall titan Equity One just release its first quarter 2014 results.
Total revenue increased from $81.43 million in the year-ago period to $92.7 million.
First quarter net income totaled $26.3 million, or $0.22 a share. That compares to $24.6 million, or $0.21 per share, in the year-ago period. Equity also generated FFO of $44.7 million compared to $40 million a year ago.
"We are pleased with our results for the first quarter of 2014,” says Jeff Olson, CEO of Equity. “Recurring FFO per share was higher than expected, occupancy increased by 150 basis points as compared to prior quarter and our development and redevelopment program is advancing nicely.”
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