The 45 Maryland Cos With March, April or May Quarter Ends (The First Full Quarter of the Trump Tax Cuts Act), With Market Caps of At Least $500 Mil and Which Have Released These 2018 Quarter Earnings By July 5, 2018 Generated March, April or May 2018 Quarter Total Pretax Income (PTI) of $4.277 Bil, Up a Robust 14.6% From Their Previous Year's Quarter Total PTI of $3.731 Bil .......................................................................................

From a review of SEC filings, the below chart shows the US GAAP Pretax Income (Loss) From Continuing Operations, the US GAAP Net Income (Loss) From Continuing Operations and the related US GAAP Income Tax Expense for the March, April or May 2018 and 2017 Quarters for all US Companies including both Partnerships and REITs which are Headquartered in the US State of Maryland with March, April or May 2018 Quarter Ends, with stock market caps of at least $500 Mil recently and which have released their March, April or May 2018 Quarter Earnings by July 5, 2018.

												US GAAP	US GAAP
												Pretax	Net
									US GAAP	US GAAP		Income	Income
	US GAAP	US GAAP	US GAAP		US GAAP	US GAAP	US GAAP		Effective	Effective		Better	Better
	Pretax	Income	Net		Pretax	Income	Net		Income	Income		(Worse)	(Worse)
	Income	Tax	Income		Income	Tax	Income		Tax	Tax		% Change	% Change
Maryland Company	(Loss)	Expense	(Loss)		(Loss)	Expense	(Loss)		Rate	Rate		March,	March,
Market Caps of $500 Mil+	March,	March,	March,		March,	March,	March,		March,	March,		April or	April or
Releasing March, April or	April or	April or	April or		April or	April or	April or		April or	April or		May Qtr	May Qtr
May 2018 Quarter	May Qtr	May Qtr	May Qtr		May Qtr	May Qtr	May Qtr		May Qtr	May Qtr		2018	2018
Earnings By July 5, 2018	2018	2018	2018		2017	2017	2017		2018	2017		vs 2017	vs 2017
	mils $	mils $	mils $		mils $	mils $	mils $
Lockheed Martin	1,360	203	1,157		1,035	246	789		14.9%	23.8%		31%	47%
T Rowe Price	600	144	456		637	236	401		24.0%	37.0%		-6%	14%
Marriott Intl	502	104	398		494	123	371		20.7%	24.9%		2%	7%
AGNC Investment Corp	424	-	424		76	-	76		0.0%	0.0%		458%	458%
United Therapeutics	309	65	244		264	85	179		21.0%	32.2%		17%	36%
Host Hotels & Resorts	260	4	256		155	(6)	161		1.5%	-3.9%		68%	59%
Laureate Education	174	2	172		(147)	(27)	(120)		1.1%	18.4%		218%	243%
McCormick & Co	156	33	123		127	27	100		21.2%	21.3%		23%	23%
Legg Mason	124	40	84		103	13	90		32.3%	12.6%		20%	-7%
Regenxbio	104	-	104		(22)	-	(22)		0.0%	0.0%		573%	573%
Omega Healthcare Investors	89	1	88		110	1	109		1.1%	0.9%		-19%	-19%
WR Grace	68	25	43		61	18	43		36.8%	29.5%		11%	0%
Federal Realty Investment Trust	63	-	63		58	-	58		0.0%	0.0%		9%	9%
Eagle Bancorp	48	12	36		42	15	27		25.0%	35.7%		14%	33%
Walker & Dunlop	44	7	37		56	13	43		15.9%	23.2%		-21%	-14%
US Silica Holdings	39	8	31		1	(2)	3		20.5%	-200.0%		3800%	933%
Colfax	38	6	32		51	13	38		15.8%	25.5%		-25%	-16%
Supernus Pharmaceuticals	31	5	26		16	6	10		16.1%	37.5%		94%	160%
Choice Hotels Intl	30	5	25		34	10	24		16.7%	29.4%		-12%	4%
Sandy Spring Bancorp	28	7	21		23	8	15		25.0%	34.8%		22%	40%
Sinclair Broadcasting Group	28	(16)	44		99	28	71		-57.1%	28.3%		-72%	-38%
RLJ Lodging Trust	25	1	24		23	1	22		4.0%	4.3%		9%	9%
Pebblebrook Hotel Trust	24	(1)	25		11	(3)	14		-4.2%	-27.3%		118%	79%
Ciena	20	6	14		42	4	38		30.0%	9.5%		-52%	-63%
Corporate Office Properties Trust	19	-	19		23	-	23		0.0%	0.0%		-17%	-17%
Medpace Holdings	15	3	12		9	3	6		20.0%	33.3%		67%	100%
Saul Centers	15	-	15		17	-	17		0.0%	0.0%		-12%	-12%
Old Line Bancshares	8	2	6		6	2	4		25.0%	33.3%		33%	50%
Argan	7	2	5		32	11	21		28.6%	34.4%		-78%	-76%
Diamondrock Hospitality	4	-	4		10	1	9		0.0%	10.0%		-60%	-56%
JBG Smith Properties	(6)	(1)	(5)		6	-	6		16.7%	0.0%		-200%	-183%
WillScot	(7)	-	(7)		(17)	(5)	(12)		0.0%	29.4%		59%	42%
Emergent BioSolutions	(10)	(5)	(5)		14	3	11		50.0%	21.4%		-171%	-145%
LaSalle Hotel Properties	(11)	(4)	(7)		77	(5)	82		36.4%	-6.5%		-114%	-109%
2U Inc	(16)	(1)	(15)		(3)	-	(3)		6.3%	0.0%		-433%	-400%
Discovery Inc	(17)	(20)	3		276	55	221		117.6%	19.9%		-106%	-99%
Enviva Partners LP	(19)	-	(19)		-	-	-		0.0%	NM		NM	NM
Quality Care Properties	(20)	-	(20)		37	-	37		0.0%	0.0%		-154%	-154%
MTGE Investment Corp	(21)	-	(21)		39	-	39		0.0%	0.0%		-154%	-154%
Senseonics Holdings	(22)	-	(22)		(13)	-	(13)		0.0%	0.0%		-69%	-69%
Inovalon Holdings	(23)	(6)	(17)		6	2	4		26.1%	33.3%		-483%	-525%
Under Armour	(34)	(4)	(30)		2	4	(2)		11.8%	200.0%		-1800%	-1400%
Novavax	(46)	-	(46)		(44)	-	(44)		0.0%	0.0%		-5%	-5%
Macrogenics	(50)	-	(50)		(38)	-	(38)		0.0%	0.0%		-32%	-32%
TerraForm Power	(77)	(1)	(76)		(57)	(1)	(56)		1.3%	1.8%		-35%	-36%
Total all 45 Maryland Cos	4,277	626	3,651		3,731	879	2,852		14.6%	23.6%		14.6%	28%