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 matched Wall Street expectations.

The real estate investment trust, based in Columbia, Maryland, said it had funds from operations of $68.1 million, or 58 cents per share, in the period.

The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 58 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 $30.9 million, or 27 cents per share.

The real estate investment trust specializing in suburban office properties, based in Columbia, Maryland, posted revenue of $182.5 million in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $185.8 million.

For the current quarter ending in December, Corporate Office Properties expects its per-share funds from operations to range from 59 cents to 61 cents.

The company expects full-year funds from operations in the range of $2.34 to $2.36 per share.

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