Corporate Office Properties Trust Sets FY14 FFO Guidance

(RTTNews) - Corporate Office Properties Trust (OFC) said Tuesday that it was establishing guidance for FFO per share, as adjusted for comparability, for the year ending December 31, 2014, in the range of $1.84 to $1.92, and earnings per share for 2014 in the range of $1.10 to $1.18.

Analysts polled by Thomson Reuters currently expect the company to report FFO of $0.95 per share for the full year 2014. Analysts' estimates typically exclude special items.

"In 2013, we completed our strategic repositioning initiatives, which greatly improved the quality of our portfolio and the strength of our balance sheet. The stage is set for us to grow by executing and expanding our pipeline of low-risk development opportunities," said Roger Waesche, Jr., COPT's President & Chief Executive Officer.

"The recent federal budget agreement provided certainty for defense spending levels and should support a normalized contract awarding process between the Department of Defense and defense contractors. We are well positioned, financially and geographically, to capitalize on new opportunities both within our strategic tenant niche and within our strategic markets in the greater Baltimore-Washington region," Waesche added.