Corporate Office Properties Trust, a Columbia-based real estate investment trust, announced Friday that it loss in the third quarter narrowed from last year.
The $7.45 million loss in the three months ended Sept. 30 was much lower than the $27.5 million it lost a year earlier. On a per share basis, it lost 9 cents, down from 39 cents.
Quarterly revenues rose 5 percent to $136 million.
COPT focuses on office real estate leased by the federal government and defense contractors in the greater Washington/Baltimore region. Its portfolio included 210 office properties totaling 19.2 million rentable square feet that was 89.7 percent leased as of Sept. 30.
"Looking ahead, we expect stable performance from our current same office portfolio in 2014 and anticipate that our development pipeline and property dispositions will add tremendous value for investors," said Roger A. Waesche, Jr., COPT's president and CEO, in a statement.
COPT shares closed up $1 each Friday at $24.90.Copyright © 2015, The Baltimore Sun