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Dec 31, 2022
COPT Q4 2022 Earnings Report
Reported results for the fourth quarter and full year ended December 31, 2022.
Key Takeaways
COPT reported strong Q4 2022 results, driven by its Defense/IT investment strategy. The company's FFO per share, as adjusted for comparability, grew by 3% in 2022, exceeding initial guidance. COPT executed significant vacancy leasing and maintained a solid balance sheet.
Diluted earnings per share was $0.45 for the quarter ended December 31, 2022 compared to $0.12 for the quarter ended December 31, 2021.
FFOPS, as adjusted for comparability, was $0.60 for the quarter ended December 31, 2022 compared to $0.58 for the quarter ended December 31, 2021.
At December 31, 2022, the Company’s 22.8 million square foot core portfolio was 92.8% occupied and 95.3% leased.
For the quarter ended December 31, 2022, the Company leased 692,000 square feet, including 519,000 square feet of renewals and 173,000 square feet of vacancy leasing.
Forward Guidance
COPT details its initial full year and first quarter guidance, with supporting assumptions, in a separate press release issued concurrently with this press release.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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