COLUMBIA, MD—Columbia Office Property Trust is feeling good about its direction. "Based on leasing already executed, and the leasing momentum we are experiencing across the majority of our portfolio, we are highly confident that FFO per share will now trend higher, beginning with this third quarter," CEO Roger A. Waesche, Jr., says in a prepared statement with the release of the REIT's Q2 earnings.
For Q2, the REIT reported diluted funds from operations per share (or FFOPS) at $0.37 compared to $0.25 in the second quarter of 2013. When FFOPS was adjusted for comparability, the quarter clocked in at $0.44 compared to $0.52 for same period in 2013.
It also narrowed its previously-issued guidance for 2014 FFOPS, as adjusted for comparability, from the prior range of $1.85–$1.92, to a new range of $1.86–$1.90.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
