Last $63.89 USD
Change Today +0.51 / 0.80%
Volume 4.8K
HME On Other Exchanges
Symbol
Exchange
New York
Frankfurt
As of 9:34 AM 10/22/14 All times are local (Market data is delayed by at least 15 minutes).

home properties inc (HME) Snapshot

Open
$63.42
Previous Close
$63.38
Day High
$63.89
Day Low
$63.30
52 Week High
07/30/14 - $66.74
52 Week Low
12/19/13 - $52.16
Market Cap
3.6B
Average Volume 10 Days
384.5K
EPS TTM
$1.51
Shares Outstanding
57.3M
EX-Date
08/11/14
P/E TM
42.0x
Dividend
$2.92
Dividend Yield
4.52%
Current Stock Chart for HOME PROPERTIES INC (HME)

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home properties inc (HME) Details

Home Properties, Inc. is an independent real estate investment trust. The firm invests in the real estate markets of the United States. It is engaged in the ownership, management, acquisition, rehabilitation and development of residential apartment communities. The firm also invests in townhomes and offices. Home Properties, Inc. was founded in November 1993 and is based in Rochester, New York.

1,200 Employees
Last Reported Date: 02/21/14
Founded in 1993

home properties inc (HME) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: $550.0K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $350.0K
Executive Vice President, General Counsel and...
Total Annual Compensation: $307.9K
Chief Investment Officer and Senior Vice Pres...
Total Annual Compensation: $279.0K
Chief Operating Manager for The Properties an...
Total Annual Compensation: $275.8K
Compensation as of Fiscal Year 2013.

home properties inc (HME) Key Developments

Home Properties Inc. Announces Regular Cash Dividend for the Quarter Ended June 30, 2014, Payable on August 27, 2014

Home Properties Inc. announced a regular cash dividend on the company's common shares of $0.73 per share for the quarter ended June 30, 2014. The dividend is payable on August 27, 2014 to shareholders of record on August 13, 2014 and is equivalent to an annualized rate of $2.92 per share. The current annual dividend represents a 4.4% yield based on the July 30 closing price of $66.69. Home Properties' common stock will begin trading ex-dividend on August 11, 2014.

Home Properties Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Third Quarter and Fourth Quarter of 2014; Revises Earnings Guidance for the Year 2014

Home Properties Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total revenues of $168,371,000 compared to $162,356,000 a year ago. Income from continuing operations was $26,463,000 compared to $26,369,000 a year ago. Net income attributable to common stockholders was $22,469,000 or $0.39 per basic and diluted share compared to $27,036,000 or $0.51 per diluted share a year ago. FFO - basic and diluted was $71,050,000 or $1.04 per diluted share compared to $70,449,000 or $1.11 per diluted share a year ago. Operating FFO was $75,166,000 or $1.11 per share compared to $70,465,000 or $1.11 per share a year ago. AFFO was $61,956,000 or $0.91 per share compared to $61,548,000 or $0.97 per share a year ago. Operating AFFO was $66,072,000 or $0.97 per share compared to $61,564,000 or $0.97 per share a year ago. The decrease in EPS is primarily attributable to one-time charges of approximately $3.8 million incurred in connection with the company's exit from the business of developing new apartment communities and lower gains on the disposition of property in 2014. The decrease in FFO is primarily attributable to the $3.8 million charges related to the company's exit from new development. For the six months, the company reported total revenues of $336,426,000 compared to $324,079,000 a year ago. Income from continuing operations was $49,088,000 compared to $47,528,000 a year ago. Net income attributable to common stockholders was $68,260,000 or $1.18 per diluted share compared to $78,916,000 or $1.50 per diluted share a year ago. FFO - basic and diluted was $138,606,000 or $2.04 per diluted share compared to $136,497,000 or $2.17 per diluted share a year ago. Operating FFO was $142,730,000 or $2.10 per share compared to $136,529,000 or $2.17 per share a year ago. AFFO was $120,381,000 or $1.77 per share compared to $118,563,000 or $1.88 per share a year ago. Operating AFFO was $124,505,000 or $1.83 per share compared to $118,595,000 or $1.88 per share a year ago. In addition, the company expects to recognize approximately $1.2 million of interest expense related to land and predevelopment carrying costs in the third and fourth quarters of 2014 that would have otherwise been capitalized. Based on actual year-to-date results and expectations for the balance of the year, the company has decreased the midpoint of its prior FFO guidance by $0.13 per share, to $4.35, and the range of FFO per share to $4.31 to $4.39. The midpoint of 2014 OFFO per share guidance has been decreased by $0.07 per share to $4.42 with a range of $4.38 to $4.46. A significant portion of the reduction in guidance is directly attributable to the company's exit from the new development business: $0.10 for FFO and $0.04 for OFFO. In addition, extreme weather conditions experienced in the first quarter of 2014 resulted in delays in completing units in the two development projects currently under construction, resulting in reduced NOI from these properties of $0.02 per share for both FFO and OFFO. Guidance for operating results from Core Properties, G&A, and interest expense have been reduced by $0.01 per share for the balance of the year.

Home Properties Inc. Presents at 2014 Western New York Investors Conference, Sep-26-2014 10:55 AM

Home Properties Inc. Presents at 2014 Western New York Investors Conference, Sep-26-2014 10:55 AM. Venue: Embassy Suites Buffalo, 200 Delaware Ave, Buffalo, NY 14202, United States.

 

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Industry Analysis

HME

Industry Average

Valuation HME Industry Range
Price/Earnings 43.3x
Price/Sales 5.4x
Price/Book 2.2x
Price/Cash Flow 11.0x
TEV/Sales 1.4x
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