COLUMBIA, MD—Columbia Office Property Trust isfeeling good about its direction. "Based on leasing alreadyexecuted, and the leasing momentum we are experiencing across themajority of our portfolio, we are highly confident that FFO pershare will now trend higher, beginning with this third quarter,"CEO Roger A. Waesche, Jr., says in a preparedstatement with the release of the REIT's Q2earnings.
For Q2, the REIT reported diluted funds from operations pershare (or FFOPS) at $0.37 compared to $0.25 in the second quarterof 2013. When FFOPS was adjusted for comparability, the quarterclocked 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.
