OFC - Corporate Office Properties Q1 guidance exceeds consensus

Corporate Office Properties Trust (OFC), also known as COPT, expects Q1 adjusted FFO per share of 54 cents-56 cents, higher than the average analyst estimate of 53 cents.For the year, it sees adjusted FFO per share of $2.16-$2.22, narrowing from the implied range of $2.15-$2.21 it provided in October; compares with the consensus estimate of $2.19."The $2.19 midpoint of our 2021 initial guidance is a penny higher than the midpoint implied by the growth guideposts we provided in October and reflects the on-going strength of our operations," said COPT President and CEO Stephen E. Budorick.The Q1 guidance assumes same-property occupancy of 92%-93% at quarter-end; and same-property cash net operating income falling 1.5% to 2.5%.The full-year guidance assumes year-end same-property occupancy at 90%-92% and same-property cash NOI flat to down 2%.Previously: Corporate Office Properties Trust FFO beats by $0.03, beats on revenue (Feb. 4)

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Corporate Office Properties Q1 guidance exceeds consensus