Home Properties Reports Q4 FFO of $0.85 vs. $0.79

Home Properties HME today released financial results for the fourth quarter and year ended December 31, 2010. Earnings per share ("EPS") for the quarter ended December 31, 2010 was $0.18, compared to $0.36 for the quarter ended December 31, 2009. The $0.18 decrease in EPS was primarily a result of the net effects of an increase in income from continuing operations of $0.03 per share combined with a decrease of $0.24 per share in gain on disposition of property. For the quarter ended December 31, 2010, Funds From Operations ("FFO") was $41.9 million, or $0.85 per share, compared to $35.4 million, or $0.77 per share, for the quarter ended December 31, 2009. Fourth quarter 2010 FFO of $0.85 per share was $0.06 above analysts' mean estimate, as reported by Thomson, and the midpoint of the guidance range provided by management.