COPT is a REIT that owns, manages, leases, develops and selectively acquires office and data center properties.
Undervalued with proven track record and pays a dividend.
Share Price & News
How has Corporate Office Properties Trust's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: OFC has not had significant price volatility in the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: OFC underperformed the US REITs industry which returned 16% over the past year.
Return vs Market: OFC underperformed the US Market which returned 17.9% over the past year.
Price Volatility Vs. Market
How volatile is Corporate Office Properties Trust's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 weeks ago | Simply Wall StIs It Time To Consider Buying Corporate Office Properties Trust (NYSE:OFC)?
1 month ago | Simply Wall StIs Now The Time To Put Corporate Office Properties Trust (NYSE:OFC) On Your Watchlist?
1 month ago | Simply Wall StHow Much Are Corporate Office Properties Trust (NYSE:OFC) Insiders Taking Off The Table?
Is Corporate Office Properties Trust undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: OFC ($29.63) is trading below our estimate of fair value ($51.43)
Significantly Below Fair Value: OFC is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: OFC is good value based on its PE Ratio (17.2x) compared to the REITs industry average (37.2x).
PE vs Market: OFC is good value based on its PE Ratio (17.2x) compared to the US market (18.2x).
Price to Earnings Growth Ratio
PEG Ratio: OFC's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: OFC is good value based on its PB Ratio (2x) compared to the US REITs industry average (2.1x).
How is Corporate Office Properties Trust forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: OFC's earnings are forecast to decline over the next 3 years (-16.4% per year).
Earnings vs Market: OFC's earnings are forecast to decline over the next 3 years (-16.4% per year).
High Growth Earnings: OFC's earnings are forecast to decline over the next 3 years.
Revenue vs Market: OFC's revenue (3.1% per year) is forecast to grow slower than the US market (7.6% per year).
High Growth Revenue: OFC's revenue (3.1% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: OFC's Return on Equity is forecast to be low in 3 years time (6.1%).
How has Corporate Office Properties Trust performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: OFC has a large one-off gain of $104.9M impacting its December 31 2019 financial results.
Growing Profit Margin: OFC's current net profit margins (29.7%) are higher than last year (12.4%).
Past Earnings Growth Analysis
Earnings Trend: OFC's earnings have grown by 17.2% per year over the past 5 years.
Accelerating Growth: OFC's earnings growth over the past year (165.9%) exceeds its 5-year average (17.2% per year).
Earnings vs Industry: OFC earnings growth over the past year (165.9%) exceeded the REITs industry 7.6%.
Return on Equity
High ROE: OFC's Return on Equity (11.4%) is considered low.
Return on Assets
Return on Capital Employed
How is Corporate Office Properties Trust's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Inventory Level: OFC has a high level of physical assets or inventory.
Debt Coverage by Assets: OFC's debt is not covered by short term assets (assets are 0.2x debt).
Financial Institutions Analysis
Asset Level: OFC's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if OFC has a sufficient allowance for bad loans.
Low Risk Liabilities: OFC reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if OFC has an acceptable proportion of non-loan assets held.
Low Risk Deposits: OFC has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if OFC has an appropriate level of bad loans.
What is Corporate Office Properties Trust's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: OFC's dividend (3.71%) is higher than the bottom 25% of dividend payers in the US market (1.45%).
High Dividend: OFC's dividend (3.71%) is low compared to the top 25% of dividend payers in the US market (3.73%).
Stability and Growth of Payments
Stable Dividend: OFC's dividends per share have been stable in the past 10 years.
Growing Dividend: OFC's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (53.7%), OFC's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: OFC's dividends in 3 years are forecast to be thoroughly covered by earnings (0.5% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Steve Budorick (59yo)
Mr. Stephen E. Budorick, also known as Steve, has been the Chief Executive Officer and President at Corporate Office Properties Trust since May 12, 2016. Mr. Budorick was elected Trustee at the firm in May ...
CEO Compensation Analysis
Compensation vs Market: Steve's total compensation ($USD3.53M) is about average for companies of similar size in the US market ($USD4.87M).
Compensation vs Earnings: Steve's compensation has increased by more than 20% in the past year.
|Executive VP & CFO||5yrs||US$1.49m||0.047% $1.6m|
|Executive VP & COO||3.3yrs||US$1.65m||0.033% $1.1m|
|Chief Accounting Officer||11.6yrs||no data||no data|
|Vice President of Investor Relations||0yrs||no data||no data|
|VP, General Counsel & Secretary||9.1yrs||no data||no data|
|Senior Vice President of Business Development||7.4yrs||no data||no data|
|Senior Vice President of Human Resources||0yrs||no data||no data|
|Senior Vice President of Asset Management & Leasing||16.1yrs||no data||no data|
|Senior Vice President of Development & Construction||0yrs||no data||no data|
Experienced Management: OFC's management team is seasoned and experienced (7.4 years average tenure).
|Chairman of the Board||6.8yrs||US$241.10k||0.012% $405.1k|
Experienced Board: OFC's board of directors are considered experienced (6.5 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: OFC insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 7%.
Corporate Office Properties Trust's company bio, employee growth, exchange listings and data sources
- Name: Corporate Office Properties Trust
- Ticker: OFC
- Exchange: NYSE
- Founded: 1988
- Industry: Office REITs
- Sector: Real Estate
- Implied Market Cap: US$3.353b
- Market Cap: US$3.309b
- Shares outstanding: 113.17m
- Website: https://www.copt.com
Number of Employees
- Corporate Office Properties Trust
- 6711 Columbia Gateway Drive
- Suite 300
- United States
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|OFC||NYSE (New York Stock Exchange)||Yes||Common Shares||US||USD||Dec 1991|
|WX7||DB (Deutsche Boerse AG)||Yes||Common Shares||DE||EUR||Dec 1991|
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 December 31, 2019, 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 15 buildings owned through unconsolidated joint ventures, COPT’s core portfolio of 168 office and data center shell properties encompassed 19.0 million square feet and was 94.6% leased; the Company also owned one wholesale data center with a critical load of 19.25 megawatts that was 76.9% leased.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/02/23 00:31|
|End of Day Share Price||2020/02/21 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.