Corporate Office Properties Trust Q3 FFO Rises; Narrows 2014 Adj. FFO/shr View

(RTTNews) - Corporate Office Properties Trust (OFC) reported that funds from operations available to common share and common unit holders for the third quarter ended September 30, 2014 rose to $44.92 million from last year's $43.62 million, with funds from operations per share increasing to $0.49 from $0.48 in the third quarter of 2013.

FFO per share as adjusted for comparability declined to $0.48 from $0.49 in the previous year.

Net income attributable to common shareholders was $19.17 million, compared to a loss of $7.45 million in the prior year. Earnings per share was $0.22 for the quarter compared to a loss of $0.09 in the previous year.

Total revenues for the quarter grew to $153.02 million from $131.81 million last year.

The company affirmed guidance for fourth quarter 2014 FFO per share, as adjusted for comparability, of $0.48-$0.50.

The company narrowed its guidance for 2014 FFO per share, as adjusted for comparability, to a new range of $1.87-$1.89 from the prior range of $1.86-$1.90.