WASHINGTON (dpa-AFX) - BRE Properties Inc. (BRE) reported that its fourth-quarter Funds from operations or FFO totaled $43.3 million, or $0.57 per share up from $9.8 million, or $0.15 per share, for the fourth quarter 2010. Net income available to common shareholders for the fourth quarter 2011 totaled $33.6 million, or $0.44 per share, compared with net income of $149,000, or break even per share, for the same period 2010. The fourth quarter 2011 results included gains on sales totaling $16.5 million or, $0.22 per share. The fourth quarter 2010 results included a gain on sale of real estate of approximately $15.2 million, or $0.24 per share, and the loss on retirement of debt totaling $22.9 million, or $0.36 per share. Total revenues from continuing operations for the quarter were $96.0 million, compared with $87.4 million for the fourth quarter 2010. Analysts polled by Thomson Reuters expected the company to report earnings of $0.56 per share on revenues of $96.38 million for the quarter. Analysts' estimates typically exclude special items. The company said that its board approved a 2.7% increase for the 2012 common dividend to $0.385 per share quarterly. The quarterly dividend payment is equivalent to $1.54 per share on an annualized basis, and represents a yield of approximately 2.95% on Friday's closing price of $52.27 per share. For the first quarter of 2012, the company estimates FFO per share to range from $0.54 to $0.56. Analysts expect the company to report earnings of $0.57 per share for the first-quarter. Earnings per share for the full year 2012 are estimated to be within a range of $1.00 to $1.10. The company estimates FFO per share for 2012 to range from $2.30 to $2.40. Same-Store revenue and net operating income are expected to increase in ranges of 5.00% to 6.75% and 5.25% to 8.00%, respectively. Analysts expect the company to report earnings of $2.38 per share for fiscal 2012.
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