Brookfield Office Properties FFO Down - Quick Facts

(RTTNews) - Brookfield Office Properties Inc. (BPO, BPO.TO), a developer of premium office properties, posted lower fourth-quarter funds from operations or FFO, including $8 million of transaction costs related to the acquisition of MPG Office Trust Inc., of $134 million or $0.22 per share, versus $161 million or $0.28 per share in the 2012 period. On average, 12 analysts polled by Thomson Reuters expected earnings per share of $0.24 for the quarter. Analysts' estimates typically exclude one-time items.

For the quarter, net income attributable to common shareholders fell to $152 million, or $0.25 per share, from last year's $342 million or $0.59 per share.

However, Commercial property revenue for the period was $595 million, an increase from $579 million reported a year back.

In addition, the company announced its full-year 2014 funds from operations guidance in the range of $0.95 - $1.01 per share, with a mid-point of $0.98 per share. Twelve analysts project earnings of $1.02 per share for 2014.

Further, the board declared a quarterly common share dividend of $0.14 per share, payable on March 31, 2014 to shareholders of record at the close of business on February 28, 2014.