COPT Updates Fourth Quarter 2012 Guidance And Announces 2013 FFO Per Share Guidance

Corporate Office Properties Trust (COPT or the Company) (NYSE: OFC) is upwardly revising its guidance for fourth quarter 2012 diluted FFO per share (FFOPS), as adjusted for comparability, from the prior range of $0.45−$0.48 to a new range of $0.49−$0.51. The revised fourth quarter 2012 range reflects a one-time gain on the sale of the Company’s remaining interest in a non-real estate investment. A reconciliation of projected diluted earnings per share (EPS) to projected FFOPS, as adjusted for comparability, for the quarter ended December 31, 2012 is provided, as follows:
     
Quarter Ended
December 31, 2012

Low
 

High
 
FFOPS, as adjusted for comparability

$
0.49 $ 0.51
Losses on non-operating properties   (0.02 )     (0.02 )
 
FFOPS, NAREIT definition 0.47 0.49
 
Real estate depreciation and amortization (0.35 ) (0.35 )

Minority interest in non-FFO items and other
  0.04       0.07  
 
EPS $ 0.16     $ 0.21  

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