| | | | Financial Information | HOME PROPERTIES, INC. (NYSE - HME) | | | | 2005 Y
| 2006 Y
| 2007 Y
| 2008 Y
| | Period Ended | 12/31/2005 | 12/31/2006 | 12/31/2007 | 12/31/2008 | |
| Operational Properties, at Cost | 3,106,671 | 3,450,353 | 3,626,086 | 3,761,351 | | Investment in Real Estate before Reserves | 2,884,551 | 3,001,633 | 3,136,238 | 3,235,420 | | Total Debt | 1,924,086 | 2,124,313 | 2,189,289 | 2,323,331 | | Implied Market Cap ($M) | | | | | | Total Capitalization ($M) | | | | | | Debt /
Total Market Cap (%) | | | | | | | |
| Rental Revenue | 441,197 | 448,763 | 502,101 | 509,384 | | Rental Operating Expense | 198,974 | 190,845 | 211,126 | 214,485 | | Rental Net Operating Income | 242,223 | 257,918 | 290,975 | 294,899 | | Operating RE Revenue | 0 | 0 | 0 | 0 | | Operating RE Expense | 0 | 0 | 0 | 0 | | Operating RE NOI | 0 | 0 | 0 | 0 | | NOI | 242,223 | 257,918 | 290,975 | 294,899 | | FFO | 137,606 | 137,319 | 150,177 | 160,948 | | Adjusted FFO | 115,720 | 125,530 | 122,429 | 133,476 | | Distributable Income | NA | NA | NA | NA | | Net Income | 81,512 | 110,485 | 61,544 | 69,666 | | Net Income Attributable to Parent | 81,512 | 110,485 | 61,544 | 69,666 | | | |
| FFO /
Share | 2.84 | 3.07 | 3.20 | 3.57 | | Adjusted FFO per Share | 2.39 | 2.62 | 2.59 | 2.93 | | Distributable Income per Share | NA | NA | NA | NA | | Diluted EPS after Extraordinary | 2.33 | 3.15 | 1.73 | 2.15 | | Regular Dividends Paid | 2.53 | 2.57 | 2.61 | 2.65 | | Regular Dividends Declared | 2.53 | 2.57 | 2.61 | 2.65 | | Total Dividends Paid | 2.53 | 2.57 | 2.61 | 2.65 | | Common Dividends Declared | 2.53 | 2.57 | 2.61 | 2.65 | | FFO Payout (%) | 89.10 | 83.70 | 81.60 | 74.20 | | Dividend Payout Ratio (%) | 108.60 | 81.60 | 150.90 | 123.30 | | Price /
FFO (x) | | | | | | Price /
Earnings after Extra (x) | | | | | | Price /
LTM FFO (x) | | | | | | Price /
Trailing-four-quarter Earnings (x) | | | | | | | |
| FFO /
Revenue (%) | 31.01 | 30.25 | 29.73 | 30.73 | | Rental NOI /
Properties (%) | 7.73 | 8.03 | 8.11 | 8.08 | | Recurring EBITDA /
Interest Expense (x) | 2.30 | 2.25 | 2.27 | 2.27 | | Recurring EBITDA /
Interest Expense + Pref. Div. (x) | 2.16 | 2.14 | 2.24 | 2.27 | | | |
| Same-store NOI: Change | 1.70 | 6.80 | 5.00 | 3.30 | | Same-store REVPAR: Change, Year-over-year | NA | NA | NA | NA | | Real Estate Investment Growth | 6.13 | 4.06 | 4.48 | 3.16 | | EPS Growth after Extra | 97.50 | 35.20 |
(45.10)
| 24.30 | | FFO /
Share Growth | 11.80 | 8.10 | 4.20 | 11.60 | | |
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