Friday, Brookfield Properties Corp. (BPO,BPO.TO) said its fourth-quarter funds from operations or FFO increased to US$222 million from US$191 million in the year-ago period. Funds available to common shareholders for the quarter rose to US$217 million from US$190 million in the prior year period. Funds from operations per share for the quarter were US$0.43, down from US$0.49 in the previous year.
Net income for the quarter dipped to US$181 million or US$0.35 per share from US$458 million or US$1.16 per share in the earlier period.
On average, 13 analysts polled by Thomson Reuters expected the company to report earnings of US$0.32 per share for the quarter.
Total revenue for the quarter increased to US$816 million from US$715 million in the comparable period. Two analysts estimated revenues of US$548.03 million for the quarter.
Brookfield Properties announced that full-year 2010 diluted funds from operations prior to lease termination income, special fees and gains is in the range of US$660 million - US$700 million or US$1.25 - US$1.33 per share with a mid-point of US$675 million or US$1.28 per share.
Fourteen analysts estimate earnings of US$1.18 per share for the year.
The board of directors of Brookfield Properties declared a quarterly common share dividend of $0.14 per share payable on March 31, 2010 to shareholders of record at the close of business on March 1, 2010.
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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.