COLUMBIA, Md. (AP) — COLUMBIA, Md. (AP) — COPT Defense Properties (CDP) on Monday reported a key measure of profitability in its second quarter.
The real estate investment trust, based in Columbia, Maryland, said it had funds from operations of $57.7 million, or 68 cents per share, in the period.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $38.3 million, or 34 cents per share.
The real estate investment trust specializing in suburban office properties posted revenue of $189.9 million in the period.
For the current quarter ending in September, COPT Defense expects its per-share funds from operations to range from 66 cents to 68 cents.
The company expects full-year funds from operations in the range of $2.65 to $2.69 per share.
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