Welcome to our dedicated page for OFC news (Ticker: OFC), a resource for investors and traders seeking the latest updates and insights on OFC stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect OFC's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of OFC's position in the market.
Corporate Office Properties Trust (NYSE: OFC) reported a record 801,000 square feet of vacancy leasing in 2022, marking a 30% increase from 2021 and surpassing the previous high of 784,000 square feet in 2019. The weighted-average lease term was over 7 years, reflecting strong demand driven by increased defense spending. In Q4 2022, the company leased 173,000 square feet, following 351,000 square feet in Q3 2022, the highest quarterly total in 12 years. COPT's properties heavily support defense and IT sectors.
Corporate Office Properties Trust (NYSE: OFC) announced a quarterly dividend of $0.275 per common share for Q4 2022, totaling an annualized amount of $1.10 per share. This dividend will be payable on January 17, 2023, to shareholders on record as of December 30, 2022. As of September 30, 2022, COPT's core portfolio includes 186 properties with 21.9 million square feet and a 95.0% leasing rate, primarily focusing on Defense/IT locations that comprise 90% of its rental revenue.
Corporate Office Properties Trust (OFC) reported a 3Q22 EPS of $0.27, up from $0.24 in 3Q21, and FFO per share of $0.58, matching guidance. The core portfolio was 92.8% occupied and 95.0% leased, with a tenant retention rate of 92%, resulting in record leasing activity of 857,000 SF in the quarter. Full-year guidance for FFOPS has been narrowed to $2.34-$2.36, implying 2.6% growth. The company has successfully closed a new credit facility, extending maturities to 2027-2028 with no significant debt maturing until 2026.
Summary not available.
Corporate Office Properties Trust (NYSE: OFC) has elected Essye B. Miller to its Board of Trustees, effective October 1, 2022. Miller brings extensive experience from her time at the U.S. Department of Defense, where she oversaw an $8 billion Cybersecurity Program. She held key positions as Deputy Chief Information Officer and Chief Information Security Officer. Miller is currently the President and CEO of Executive Business Management LLC. COPT, a REIT focused on office and data center properties, derives 90% of its revenue from locations supporting national security and defense.
Corporate Office Properties Trust (NYSE: OFC) announced that President and CEO Stephen E. Budorick will present at the BofA Securities 2022 Global Real Estate Conference on September 13, 2022, at 2:10 PM Eastern Time. A live audio webcast will be accessible on the company’s Investors website. COPT focuses on owning and managing office and data center properties, primarily serving national security and IT sectors, with 90% of annualized rental revenue stemming from Defense/IT Locations. As of June 30, 2022, the core portfolio included 186 properties, representing 21.9 million square feet and a 93.7% leasing rate.
Corporate Office Properties Trust (NYSE: OFC) signed a full-building lease with a Fortune 100 defense contractor for a 121,000 square foot LEED Silver building located at 1200 Redstone Gateway in Huntsville, AL. This lease underscores COPT’s commitment to supporting national security and defense through its strategically positioned properties, primarily focusing on Defense/IT locations. As of June 30, 2022, 90% of its annualized rental revenue derived from these sectors, with a core portfolio totaling 186 properties and a leasing rate of 93.7%.
Corporate Office Properties Trust (NYSE: OFC) declared a quarterly dividend of $0.275 per common share for Q3 2022, amounting to an annualized $1.10 per share. This dividend is payable on October 17, 2022, to shareholders of record as of September 30, 2022. COPT focuses on owning, managing, and developing office and data center properties, with 90% of its core annualized rental revenue from Defense/IT Locations. As of June 30, 2022, COPT’s portfolio included 186 properties with a total of 21.9 million square feet and was 93.7% leased.
Corporate Office Properties Trust (OFC) reported a 2Q22 EPS of $0.29, down from $0.38 YoY, with FFOPS at $0.59, slightly exceeding guidance. The full-year FFOPS guidance is raised to $2.33-$2.37, implying a 2.6% growth. Same-property cash NOI decreased 2.4%, while occupancy stood at 91.8%. The leased developments totaled 80,000 SF this quarter. Management anticipates a 75% tenant retention rate by year-end, up from 62% year-to-date. The company owns a core portfolio of 21.9 million SF, primarily focused on Defense/IT locations.
Corporate Office Properties Trust (NYSE: OFC) announced a build-to-suit lease with a Fortune 100 defense contractor in The National Business Park, adjacent to Fort George G. Meade, Maryland. The 186,000 square foot development aims for LEED Silver certification, enhancing the park to 4.3 million square feet upon completion. As of June 30, 2022, COPT's core portfolio consisted of 186 properties, totaling 21.9 million square feet, 93.7% leased, with 90% of revenue from Defense/IT locations.
