The company's same store occupancy rate is more than 97% while rental rate growth reached 40%. Its operating properties' average occupancy was 97.1% as of Sept. 30. CarrAmerica purchased approximately $71.4 million of its common stock to date under the previously announced $100-million share repurchase program. The average price per share has been $28.14.

Previously, on Nov. 2, the company's board of directors declared a third quarter dividend for its common stock and its series A cumulative convertible redeemable preferred stock of $0.4625 per share. The dividends will be payable at the close of business on Friday (Nov. 17). CarrAmerica's common stock will begin trading ex-dividend on Wednesday (Nov. 15) and the dividends payable to common and Series A preferred shareholders will be paid on Dec. 1.

The company also declared a regular dividend for Series B, C and D preferred stock. The series B is $0.5356 per share, the series C is $0.5344 per share, and the series D is $0.5281 per share, payable to shareholders at the close of business on Friday. Preferred stock will begin trading ex-dividend on Wednesday and the dividends will be paid on Nov. 30.