BRE Properties Inc. (BRE), a real estate investment trust (REIT) that operates apartment communities, has reported a decline in third quarter 2009 FFO (fund from operations) to $32.5 million or 59 cents per share compared to $36.3 million or 69 cents per share in the year-earlier quarter. Fund from operations, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. Total revenues from continuing operations during the quarter were $86.5 million versus $87.9 million in the year-ago quarter. Adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) were $55.7 million for the quarter, compared to $61.8 million in the prior year quarter. Overall same-store net operating income decreased 7.9% during the quarter, primarily due to a 6.9% year-over-year decline in average same-store market rent from $1,540 per unit to $1,434. Average ...

BRE, BRE Properties Inc.

KND, Kindred Healthcare Inc.

ESYM, EcoSystem Corp, ESYM.OB

DrStockPick Watch List!

 

DrStockPick Watch List! for Wednesday August 5, 2009

 

My Picks for Wednesday August 5, 2009 are:

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BRE, BRE Properties Inc.

BRE, based in San Francisco, Calif., owns and manages apartment communities convenient to its residents’ work, shopping, entertainment and transit in supply-constrained Western U.S. markets. BRE directly owns and operates 74 apartment communities totaling 21,485 units in California, Arizona and Washington.

BRE invests in communities through acquisition and development, and currently has five properties in various stages of development and construction, totaling 1,526 units, and joint venture interests in 13 additional apartment communities, totaling 4,080

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Highlights include Nordstrom, Inc. (JWN), Cost Plus, Inc. (CPWM) and BRE Properties (BRE).What do Iowa, Nebraska, North Dakota, South Dakota, Utah and Wyoming have in common? Low population densities and agricultural-based economies to be sure -- but what else?How about California, Indiana, Michigan, Nevada, North Carolina, Oregon, Rhode Island and South Carolina? Not much at first blush.The answers are, the first group has unemployment rates under 5%, while the second group has unemployment rates above 9%. The graph below (larger version available at http://www.calculatedriskblog.com/) shows that the unemployment rate is higher now than a year ago for every state in the Union. However, there are very real regional differences in the impact so far. Perhaps noteworthy by their absence from the list of the worst unemployment rates are two of the "rust belt" states, Ohio and Pennsylvania.I'm not ...