COPT Defense: Q4 Earnings Snapshot

COLUMBIA, Md. (AP) — COLUMBIA, Md. (AP) — COPT Defense Properties (CDP) on Thursday reported a key measure of profitability in its fourth quarter. The results topped Wall Street expectations.

The real estate investment trust, based in Columbia, Maryland, said it had funds from operations of $54.3 million, or 62 cents per share, in the period.

The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 61 cents per share.

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 $33.7 million, or 30 cents per share.

The real estate investment trust specializing in suburban office properties posted revenue of $179.7 million in the period.

For the year, the company reported funds from operations of $203 million, or $2.42 per share. Revenue was reported as $685 million.

For the current quarter ending in March, COPT Defense expects its per-share funds from operations to range from 59 cents to 61 cents.

The company expects full-year funds from operations in the range of $2.47 to $2.55 per share.

The company's shares have fallen roughly 9% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $23.35, a decrease of 12% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CDP at https://www.zacks.com/ap/CDP