CommonWealth REIT Announces 2012 Fourth Quarter And Year End Results

CommonWealth REIT (NYSE: CWH) today announced financial results for the quarter and year ended December 31, 2012.

Results for the Quarter Ended December 31, 2012:

Normalized funds from operations, or Normalized FFO, available for CommonWealth REIT common shareholders for the quarter ended December 31, 2012 was $68.7 million, or $0.82 per share basic and diluted, compared to Normalized FFO available for CommonWealth REIT common shareholders for the quarter ended December 31, 2011 of $63.8 million, or $0.76 per share basic and diluted.

Net (loss) income available for CommonWealth REIT common shareholders was ($163.9) million for the quarter ended December 31, 2012, compared to $1.1 million for the same quarter last year. Net (loss) income available for CommonWealth REIT common shareholders per share, basic and diluted (EPS), for the quarters ended December 31, 2012 and 2011 was ($1.96) and $0.01, respectively. Net loss for the quarter ended December 31, 2012 includes a loss on asset impairment of $168.6 million, or $2.01 per share, partially offset by a gain of $7.2 million, or $0.09 per share, from the issuance of shares by an equity investee.

The weighted average number of basic and diluted common shares outstanding was 83,804,068 and 91,102,233, respectively, for the quarter ended December 31, 2012, and 83,721,736 and 91,019,901, respectively, for the quarter ended December 31, 2011.

A reconciliation of net (loss) income attributable to CommonWealth REIT, determined according to U.S. generally accepted accounting principles, or GAAP, to funds from operations, or FFO, available for CommonWealth REIT common shareholders and Normalized FFO available for CommonWealth REIT common shareholders for the quarters ended December 31, 2012 and 2011 appears later in this press release.

Results for the Year Ended December 31, 2012:

Normalized FFO available for CommonWealth REIT common shareholders for the year ended December 31, 2012 was $283.8 million, or $3.39 per share basic and diluted, compared to Normalized FFO available for CommonWealth REIT common shareholders for the year ended December 31, 2011 of $261.6 million, or $3.38 per share basic and diluted.

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