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OFFON

CORPORATE OFFICE PROPERTIES TRUST

(OFC)
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Corporate Office Properties Trust : COPT Provides Conference Call Details for Second Quarter 2021 Results

07/06/2021 | 04:17pm EDT

Corporate Office Properties Trust (“COPT” or the “Company”) (NYSE: OFC) announces the release date and conference call details for second quarter 2021 results as follows:

Second Quarter 2021:
Results Release Date:       Thursday, July 29, 2021 after the market closes
       
Conference Call Date:       Friday, July 30, 2021
       
Time:       12:00 p.m. Eastern Time
       
Telephone Number:       (within the U.S.) 855-463-9057
       
Telephone Number:       (outside the U.S.) 661-378-9894
       
Passcode:      

8848821

Investors can also listen to the conference call via a live webcast in the ‘Latest Updates’ section of COPT’s Investors website: https://investors.copt.com/

Replay Information

A replay of the conference call will be immediately available via webcast on the Investors website. Additionally, a telephonic replay of this call will be available beginning at 3:00 p.m. Eastern Time on Friday, July 30, through 3:00 p.m. Eastern Time on Friday, August 13. To access the replay within the United States, please call 855-859-2056; to access it from outside the United States, please call 404-537-3406. In either case, use passcode 8848821.

About COPT

COPT is a REIT that owns, manages, leases, develops and selectively acquires office and data center properties. The majority of its portfolio is in locations that support the United States Government and its contractors, most of whom are engaged in national security, defense and information technology (“IT”) related activities servicing what it believes are growing, durable, priority missions (“Defense/IT Locations”). The Company also owns a portfolio of office properties located in select urban/urban-like submarkets in the Greater Washington, DC/Baltimore region with durable Class-A office fundamentals and characteristics (“Regional Office Properties”). As of March 31, 2021, the Company derived 88% of its core portfolio annualized rental revenue from Defense/IT Locations and 12% from its Regional Office Properties. As of the same date and including 17 properties owned through unconsolidated joint ventures, COPT’s core portfolio of 180 office and data center shell properties encompassed 20.8 million square feet and was 94.9% leased; the Company also owned one wholesale data center with a critical load of 19.25 megawatts that was 86.7% leased.

Forward-Looking Information

This press release may contain “forward-looking” statements, as defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, that are based on the Company’s current expectations, estimates and projections about future events and financial trends affecting the Company. Forward-looking statements can be identified by the use of words such as “may,” “will,” “should,” “could,” “believe,” “anticipate,” “expect,” “estimate,” “plan” or other comparable terminology. Forward-looking statements are inherently subject to risks and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate. Although the Company believes that the expectations, estimates and projections reflected in such forward-looking statements are based on reasonable assumptions at the time made, the Company can give no assurance that these expectations, estimates and projections will be achieved. Future events and actual results may differ materially from those discussed in the forward-looking statements and the Company undertakes no obligation to update or supplement any forward-looking statements.

The areas of risk that may affect these expectations, estimates and projections include, but are not limited to, those risks described in Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2020.

Source: Corporate Office Properties Trust


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Financials (USD)
Sales 2021 649 M - -
Net income 2021 91,5 M - -
Net Debt 2021 2 090 M - -
P/E ratio 2021 34,7x
Yield 2021 3,97%
Capitalization 3 104 M 3 104 M -
EV / Sales 2021 8,01x
EV / Sales 2022 7,92x
Nbr of Employees 406
Free-Float 99,7%
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Mean consensus BUY
Number of Analysts 13
Last Close Price 27,72 $
Average target price 33,08 $
Spread / Average Target 19,3%
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Managers and Directors
Stephen E. Budorick President, Chief Executive Officer & Trustee
Anthony Mifsud Chief Financial Officer & Executive Vice President
Thomas F. Brady Chairman
Todd W. Hartman Chief Operating Officer & Executive Vice President
Steven D. Kesler Independent Trustee
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