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Home Properties Halves First-Quarter Profit

Stock quotes in this article: HME  

Home Properties(HME Quote) said on Wednesday that it more than halved its first-quarter profit and declared a quarterly dividend.

During the quarter, the company reported earnings of $15.1 million, or 33 cents a share, compared with $36.3 million, or 80 cents a share, in the year-ago period.

Funds from operations, a key gauge of the real-estate industry, were $35.9 million, or 79 cents a share, compared to $35.8 million, or 78 cents a share, last year. ...

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