Corporate Office Properties: Q3 Earnings Snapshot

COLUMBIA, Md. (AP) _ Corporate Office Properties Trust (OFC) on Thursday reported a key measure of profitability in its third quarter. The results topped Wall Street expectations.

The Columbia, Maryland-based real estate investment trust said it had funds from operations of $65.2 million, or 57 cents per share, in the period.

The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 56 cents per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $27.1 million, or 24 cents per share.

The real estate investment trust specializing in suburban office properties, based in Columbia, Maryland, posted revenue of $174.6 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $163.1 million.

For the current quarter ending in December, Corporate Office Properties expects its per-share funds from operations to range from 55 cents to 57 cents.

The company expects full-year funds from operations in the range of $2.26 to $2.28 per share.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OFC at https://www.zacks.com/ap/OFC

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