COPT Defense Properties (CDP) 2007年年度报告「NYSE」.pdf

1、Stability&Growth,By DesignCorporate Office Properties TrustAnnual Report 2007Corporate Office Properties TrustAnnual Report 2007184%We are proud of our success in producing strong financial results and shareholder returns throughout our nearly ten years as a NYSE public company.We are committed to e

2、xtending this track recordinto the future:We have ensured that we have the financial strength to implementour strategic plan,while retaining the flexibility to take advantageof opportunities emerging under current market conditions.Performance,By DesignA history of growth407%97%Dividend Growth Per S

3、hare(98-07)FFO Growth Per Share(98-07)Total Shareholder Return(98-07)Performance,By Design2007 was another great earnings year for COPT.We generated FFO of$2.24 per dilutedshare,a 12.6%increase over 2006 results.We believe our FFO growth for 2007 was amongthe highest in the office REIT sector and co

4、mpared favorably to FFO growth for the REITsector overall.This marked our 10th consecutive year of increasing revenue and FFO.Our Board ofTrustees raised the dividend 10%in 2007,the 10th consecutive annual dividend increase,for annual dividend growth of 97%over the nine-year period since 1998.By con

5、trast,2007 was a difficult year for our stock and for REIT stocks,generally,due tounderlying weakness in some sectors of the real estate market and effects of sub-primelending problems on global credit markets.While our stock price was more adverselyaffected than those of most other office REITs,the

6、 decline reflected a sharp disconnectbetween the stock price and the companys strong fundamental operating metrics.Indeed,not only did we generate one of our highest levels of FFO growth in 2007,but thecompanys operating fundamentals continued to be very strong as we entered 2008.Wehave had no signi