Corporate Office Properties Q1 Adj. FFO/Shr Flat - Quick Facts

(RTTNews) - Corporate Office Properties Trust (OFC) Friday reported a drop in first-quarter funds from operations, or FFO. FFO per share, on an adjusted basis, was flat year-over-year.

For the first quarter, the company reported adjusted FFO of $43.67 million, compared with $41.03 million in the same period last year. Adjusted FFO per share remained flat at $0.48.

Net earnings attributable to common shareholders plunged to $251,000 or breakeven earnings per share from $8.91 million or $0.11 per share a year ago.

Revenues for the 3-month period rose to $146.67 million from $126.22 million a year ago.

The company said it is raising the low-end of its guidance for adjusted FFO by $0.01 to $1.85 - $1.92 per share for 2014. For the second quarter, the company expects adjusted FFO of $0.43 to $0.45 per share.