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Jun 30, 2022
COPT Q2 2022 Earnings Report
Reported strong, reliable results with FFO per Share, as Adjusted for Comparability, at high-end of guidance and raised midpoint of full-year guidance.
Key Takeaways
COPT reported second quarter results with EPS of $0.29 and FFO per share of $0.59, as adjusted for comparability. The company raised the midpoint of its full-year guidance for FFOPS, as adjusted for comparability, by 1-cent to $2.35, implying 2.6% growth.
Core Portfolio 91.8% Occupied & 93.7% Leased
Increased Midpoint of Full-Year Same-Property Occupancy to 92.5%; Maintains Full-Year Guidance for Change in Same-Property Cash NOI at (2%)-0%
Solid Leasing Total Leasing of 558,000 SF in 2Q22 and 1.4 Million SF Year-to-Date
1.9 Million SF of Active Developments are 91% Leased
Forward Guidance
Management is updating its full-year guidance for diluted EPS and diluted FFOPS, per Nareit and as adjusted for comparability, from the prior range of $1.16-$1.22, and $2.31-$2.37, respectively, to new ranges of $1.33-$1.37, and $2.33-$2.37, respectively. Management is establishing third quarter guidance for diluted EPS and diluted FFOPS per Nareit and as adjusted for comparability at $0.27-$0.29 and $0.57-$0.59, respectively.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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