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REIT Comments |
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07/29/2010
OFC $39
Corporate Office Properties Trust OFC 2Q 2010 FFO $0.54 (adjusted) v $0.67 DOWN (19%)
OFC slightly reduced higher end of guidance range for 2010 FFO $2.31-$2.46 v $2.46 DOWN (1%)-(7%)
OFC previous guidance 2010 FFO $2.31-$2.49
OFC guidance 2010 FFO assumes flat occupancy
OFC guidance 2010 FFO assumes same property NOI DOWN (2.0%) excluding termination fees
OFC guidance 2010 FFO assumes $300 million acquisitions
OFC 2Q 2010 same property NOI FLAT
OFC 2Q 2010 same property NOI DOWN (1.0%) excluding termination fees
OFC 2Q 2010 occupancy 88.3%
OFC 2Q 2010 rent increase on new and renewed leases UP +4%
OFC 2Q 2010 retention 71%
OFC an Office REIT with a portfolio of office properties concentrated in metropolitan DC area
OFC we rank 2 BUY
OFC market cap $2.3 billion
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