Newton-based CommonWealth REIT reported a more than 83 percent drop in quarterly year-over-year net income available to common shareholders in the fourth quarter, and an almost 24 percent dip in annual net income last year compared to 2010.

In the fourth quarter, the company reported net income available to common shareholders of $1.1 million, down from $6.7 million for the same quarter in 2010. The company noted that fourth quarter 2010 results included one-time gains resulting from the sale of certain properties and the acquisition of an industrial property fund.

Normalized finds from operations (FFO) in the fourth quarter totaled $63.8 million, the same figure recorded in the fourth quarter of 2010.

For the year, the company reported net income available to common shareholders of $63 million in 2011, down from $81.6 million in 2010.

Rental income in the fourth quarter totaled more than $241.5 million, compared to approximately $200.6 million in the same period in 2010. For the year, rental income totaled $911.9 million, up from $782.4 million in 2010.