BRE Properties Inc. (BRE) reported that its second-quarter funds from operations or FFO totaled $45.8 million, or $0.59 per share, up from $34.9 million, or $0.49 per share in the year ago quarter.
FFO for the second quarter 2011 included a $3.6 million, or $0.05 per share, preferred stock redemption charge.
Net income available to common shareholders for the second quarter totaled $28.7 million, or $0.37 per share, compared with $6.2 million, or $0.09 per share, for the same period 2011. The second quarter 2011 results included the preferred stock redemption charge cited previously.
Total revenues for the quarter rose to $98.12 million from $91.37 million in the prior year quarter.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.58 per share on revenues of $97.32 million for the quarter. Analysts' estimates typically exclude special items.
The company has established an FFO guidance range of $0.58 to $0.61 per share for the third quarter of 2012. For the third quarter of 2012, the company expects earnings per share in the range of $0.25 to $0.28. Analysts expect the company to report earnings of $0.60 per share for the third-quarter.
The company expects earnings per share for the full year 2012 to be in the range of $1.11 to $1.17. The company updated annual FFO guidance to a range of $2.32 to $2.38 per share from a previously guided range of $2.30 to $2.40 per share.
Analysts expect the company to report earnings of $2.36 per share for fiscal 2012.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.