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FFO drops for COPT in quarter

Corporate Office Properties Trust, of Columbia, an office real estate investment trust, posted $37.3 million in funds from operations, or 34 cents per diluted share, for the last quarter, compared with $115.9 million and $1.21 for the same quarter in 2013. COPT’s 173 office properties  were nearly 91 percent occupied and 92 percent leased as of the end of the quarter, Dec. 31. “Fourth-quarter and full-year results topped off a strong year for our company and were in line with our expectations,” Roger A. Waesche Jr., COPT’s president and chief executive officer, said in a statement. “During the year, we further honed our portfolio by investing in new development projects at multiple locations and by continuing to sell non-strategic assets. We also improved our capital position by accessing the public debt and equity markets.”