Corporate Office Properties Trust or COPT (OFC: Quote) has raised its fourth-quarter 2012 guidance for funds from operations or FFO per share, as adjusted for comparability, to $0.49 – $0.51, from an earlier $0.45 – $0.48 range. This revised range reflects a one-time gain on the sale of the company’s remaining stake in a non-real estate investment. Fourth-quarter earnings per share are expected to lie between $0.16 and $0.21.
On average, 3 analysts polled by Thomson Reuters project earnings per share of $0.16 for the fourth quarter. Analysts’ estimates typically exclude one-time items.
Additionally, COPT announced its FFO per share targets of $1.83 – $1.93 for 2013, and $0.44 – $0.46 for the first quarter. Major assumptions underpinning 2013 outlook include the disposition of $160 million of assets remaining to be sold in order to conclude COPT’s Strategic Reallocation Plan and 0% – 2% growth in same-office net operating income, the company said.
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by RTT Staff Writer
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