WASHINGTON (dpa-AFX) - BRE Properties Inc. (BRE) Tuesday reported third-quarter net income to common shareholders of $17.1 million or $0.23 per share, compared to $19.6 million or $0.30 per share in the same period last year.
Funds from operations, or FFO, for the quarter was $41.5 million or $0.55 per share, compared to $30.6 million or $0.47 per share in the third quarter last year. On average, 19 analysts polled by Thomson Reuters expected FFO of $0.55 per share for the quarter. Analysts' estimates typically exclude one-time items.
Total revenues from continuing operations for the quarter were $96.7 million, compared with $87.2 million in the third quarter last year. Analysts estimated revenues of $95.36 million for the quarter.
Looking forward to the full year, the company now expects FFO in a range of $2.12 to $2.14 per share, compared to the previously guided range of $2.09 to $2.17 per share. Analysts currently estimate FFO of $2.13 per share for the full year.
For the fourth quarter, the company expects FFO in a range of $0.55 to $0.57 per share. Analysts currently estimate earnings of $0.56 per share for the quarter.
Copyright RTT News/dpa-AFX
© 2011 AFX News
