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COLUMBIA, MD-Corporate Office Properties Trust reported a loss for its third quarter 2012. Its diluted loss per share was 39 cents for the quarter, compared to earnings per share of 3 cents the same quarter the previous year. Impairment losses of $55.8 million associated with the REIT’s non-strategic operating properties were part of the reason for the drop in earnings this quarter. COPT also posted a 53 cent diluted funds from operations per share, for a 2% in increase over the same period last year. COPT has embarked on a strategic reallocation plan in part to deleverage its balance sheet and in part to reposition its portfolio.

In a prepared statement, CEO Roger A. Waesche, Jr., said the REIT was ahead of schedule on leasing, on selling non-strategic assets and in its deleveraging. “We remain focused on completing the strategic initiatives currently in progress to position the company for future growth,” he added.

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