Corporate Office Properties Trust Stock Price, News & Analysis

Corporate Office Properties Trust (NYSE: OFC) announced that its President and CEO, Stephen E. Budorick, will present at Nareit’s REITweek: 2022 Investor Conference on June 7, 2022, at 9:30 a.m. ET in New York. A live audio webcast will be available on COPT’s investor website. The company focuses on office and data center properties, primarily supporting U.S. Government missions, with 90% of rental revenue derived from Defense/IT Locations. As of March 31, 2022, COPT's portfolio includes 186 properties, covering 21.8 million square feet, and is 94.1% leased.

Corporate Office Properties Trust (NYSE: OFC) has declared a regular quarterly dividend of $0.275 per common share for the second quarter ending June 30, 2022. This dividend reflects an annualized amount of $1.10 per share and will be payable on July 15, 2022, to shareholders on record as of June 30, 2022. COPT primarily focuses on properties that support U.S. Government operations, with 90% of its rental revenue from Defense/IT locations. As of March 31, 2022, the company reported a portfolio of 186 properties, encompassing 21.8 million square feet, with a leasing rate of 94.1%.

Corporate Office Properties Trust (COPT) reported its Q1 2022 earnings, with EPS of $0.52 and FFO per share of $0.58, both exceeding guidance. The company maintained its full-year guidance for cash NOI growth at (2%)-0%. The core portfolio was 92.2% occupied and 94.1% leased. COPT leased a total of 871,000 SF in the quarter, with 265,000 SF from development projects. The retention rate was 64% for the quarter, slightly below the 70-75% guidance. Management updated 2022 EPS guidance to $1.16-$1.22 and reiterated the solid leasing performance in its Defense/IT locations.

Corporate Office Properties Trust (NYSE: OFC) will release its first quarter 2022 results on April 28, 2022, after the market closes. The subsequent conference call is scheduled for April 29, 2022, at 12:00 p.m. Eastern Time. Investors can join via telephone or listen live on the company’s Investors website. Additionally, a replay will be available from 3:00 p.m. Eastern Time on April 29 until 3:00 p.m. Eastern Time on May 13. COPT is a REIT focusing on office and data center properties, primarily serving the U.S. Government and its contractors.

Corporate Office Properties Trust (NYSE: OFC) reports on the Fiscal Year 2022 budget, with an estimated $665 billion for the Department of Defense, a 6% increase from 2021. This reflects bipartisan support with votes of 363-70 in the House and 88-11 in the Senate. For more insights, COPT updated its Defense & Intelligence Budgets and Annual Defense Budget Process reports, available on its website. COPT also released its TCFD Report for 2022, focusing on climate-related risks.

Corporate Office Properties Trust (NYSE: OFC) announced that President & CEO Stephen E. Budorick will present at Citi’s 2022 Global Property CEO Conference on March 8, 2022, at 2:45 PM ET in Hollywood, Florida. A live audio webcast will be available on COPT’s Investors website, with a replay accessible until March 29, 2022. COPT focuses on office and data center properties, primarily supporting U.S. Government and contractors engaged in national security and IT activities. As of December 31, 2021, COPT's portfolio included 184 properties covering 21.6 million square feet, 94.4% leased.

Corporate Office Properties Trust (OFC) announced a quarterly dividend of $0.275 per common share for Q1 2022, amounting to an annualized $1.10. This dividend will be payable on April 15, 2022, to shareholders of record by March 31, 2022.

COPT primarily owns properties supporting U.S. Government operations, with 88% of its revenue from Defense/IT Locations. As of December 31, 2021, COPT's core portfolio consisted of 184 properties with 21.6 million sq ft and a leasing rate of 94.4%.

Corporate Office Properties Trust (NYSE: OFC) has outlined its guidance for the year ending December 31, 2022, expecting diluted earnings per share (EPS) between $1.12 and $1.20, and diluted funds from operations (FFOPS) between $2.30 and $2.38. COPT's strategy involves capital allocation to Defense/IT Locations, targeting 4% annual growth in FFOPS since 2018. The company plans to service over 800,000 square feet of fully-leased developments and complete 700,000 square feet of leasing while maintaining a conservative balance sheet. The guidance integrates a 2.2% growth over 2021, factoring in DC-6's sale and non-renewal impacts.

Corporate Office Properties Trust (COPT) reported a diluted EPS of $0.12 for 4Q21, down from $0.73 in 4Q20, with full-year EPS at $0.68 versus $0.87 in 2020. Adjusted FFO per share increased 8% to $2.29 for the full year, driven by a 1.2% increase in same-property cash NOI and strong leasing activity, totaling 3.9 million square feet in 2021. The company's active development pipeline stands at 1.7 million square feet, 96% leased. Recent property sales raised $222.5 million, bolstering its balance sheet. COPT continues to focus on Defense/IT Locations, generating 88% of its revenue from this sector.