BRE Properties sees FY07 and FY08 FFO's in-line with consensus Co issues in-line guidance; co sees FY07 funds from operations of $2.59-2.63 vs $2.60 First Call consensus. Co sees FY08 funds from operations of $2.70-2.85 vs $2.85 First Call consensus. Co says, "Management expects competing market forces and factors to dominate the 2008 landscape. Declining job growth and rental competition from single-family housing and condominiums may impact apartment demand in certain operating markets. These factors may be offset by economic growth better than the national average in two of the cos core operating markets, a general reversal in home ownership levels and improving demographic trends, which management believes will combine to push propensity-to-rent levels higher."
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source: msn.com
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