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Jun 30, 2020
COPT Q2 2020 Earnings Report
Reported strong second quarter results.
Key Takeaways
COPT reported strong second quarter results, with FFO per share exceeding the high-end of their guidance range by 1-cent. Cost savings and the timing of repair and maintenance costs more than offset the reserves they took on tenants impacted by the shutdowns and drove same-property cash NOI growth of 1.7%.
FFO per share of $0.51 in 2Q Exceeded High-End of Guidance by $0.01
Solid Same-Property Cash NOI Growth of 1.7% in 2Q Outperformed Guidance
Core Portfolio 93.6% Occupied & 94.7% Leased
Executed a New, 3.1MW Lease with Defense Contractor at DC-6
Forward Guidance
Management is maintaining its full-year guidance ranges for FFOPS per Nareit and FFOPS, as adjusted for comparability, at $1.95-$1.99 and $2.05-$2.09, respectively.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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