COPT Defense Properties (CDP) 2021年年度报告「NYSE」.pdf

1、CORPORATE OFFICE PROPERTIES TRUSTA N N U A L R E P O R T20 212021 Annual Report50765 Merrill_COPT_2021AR_covers.indd 350765 Merrill_COPT_2021AR_covers.indd 33/18/22 7:23 PM3/18/22 7:23 PMDear fellow shareholders,2021 was a year of broad-based achievement that firmly established our Company on a path

2、 to deliver attractive,steady FFO growth.We outperformed in all aspects of our business,including leasing,operations,development,and capital markets,generating strong bottom line results.The diluted FFO per share(“FFOPS”),as adjusted for comparability,of$2.29 we achieved in 2021 marked an 8%increase

3、 over 2020s results and was$0.10 above the midpoint of our original guidance.More importantly,we believe that our 2021 successes position our Company to achieve solid FFOPS growth for the foreseeable future.Beneficial leasing and operating activities drove solid gains in net operating income and con

4、tributed approximately 2-cents of upside to 2021 results.The gains were wide-spread with favorable results in lease renewal activity,savings against budget on property-level maintenance projects,and utility savings.In contrast with typical office properties,which saw diminished leasing achievement d

5、uring and post-pandemic as hybrid and remote work models cast doubt on future demand,we continued to experience strong demand for our mission critical locations and to execute healthy leasing volumes in our operating portfolio.The 616,000 square feet of vacancy leasing we accomplished in 2021 repres

6、ented 115%of our 5-year average,1 and the 8.2-year average lease term indicates tenants long-term commitment to our properties.Additionally,96%of vacancy leasing took place at our Defense/IT Locations,and 81%occurred in the Ft.Meade/BW Corridor subsegmenta testament to the strength of our cornerston