US stock · Real Estate sector · REIT—Office
C
Corporate Office Properties Trust
OFC
NYSE23.34
USD
+0.78
(+3.46%)
Market Closed
13.58P/E
19Forward P/E
0.56P/E to S&P500
2.665BMarket CAP
4.92%Div Yield
Upcoming Earnings
26 Jul-31 Jul
Shares Short
5/15/23
2.76M
Short % of Float
3.54%
Short % of Shares Outs.
2.45%
% Held by Insiders
0.35%
% Held by Institutions
108.43%
Beta
1.04
PEG Ratio
2.05
52w. high/low
28.69/21.59
Avg. Daily Volume
0.81M
Return %
Stock
S&P 500
1 year
(13.54)
2.30
3 years
(10.21)
37.66
5 years
(15.54)
54.74
Scale: |
High
Low
43.50
20.39
40.59
20.49
43.61
32.69
36.90
19.35
26.12
20.58
29.95
21.48
29.44
23.55
30.94
20.13
31.51
19.52
36.03
28.88
31.01
20.04
30.27
20.49
30.57
15.23
30.51
24.64
29.64
22.22
28.69
21.59
Currency: USD
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
TTM
Revenue per share
8.77
12.22
13.72
9.47
8.03
7.19
6.15
6.66
6.66
6.08
6.19
5.56
5.77
5.45
5.94
6.59
8.46
Earnings per share
0.74
1.22
1.01
0.72
(1.70)
0.29
1.10
0.46
1.90
0.12
0.71
0.72
1.72
0.87
0.68
1.54
1.02
FCF per share
(4.62)
(2.27)
(1.21)
(5.70)
(2.41)
2.34
1.59
1.87
1.93
2.18
2.10
1.50
1.83
1.84
1.96
- -
2.97
Dividends per share
1.83
1.99
1.96
1.98
2.00
1.47
1.35
1.28
1.25
1.25
1.20
1.10
1.10
1.10
1.11
- -
1.49
CAPEX per share
7.57
6.05
4.70
8.33
4.61
0.27
0.28
0.33
0.25
0.28
0.23
0.23
0.22
0.29
0.27
- -
0.26
Book Value per sh.
19.95
21.35
21.93
19.05
19.68
19.41
17.04
17.53
16.22
14.67
16.02
16.15
14.94
14.52
14.86
15.01
20.00
Comm.Shares outs.
47
48
56
60
69
73
85
88
94
95
99
104
111
112
112
112
84
Avg. annual P/E ratio
58.5
27.6
30.8
52.3
(17.6)
82.1
23.1
59.2
13.3
220.2
46.2
37.9
16.0
29.0
40.3
17.1
13.6
P/E to S&P500
3.4
1.3
0.4
2.5
(1.1)
5.5
1.4
3.3
0.7
9.9
2.0
1.5
0.7
0.8
1.3
0.8
0.6
Avg. annual div. yield
4.2%
5.9%
6.3%
5.3%
6.7%
6.3%
5.3%
4.7%
5.0%
4.7%
3.7%
4.0%
4.0%
4.4%
4.0%
- -
5.9%
Revenue (m)
410
588
768
564
557
528
523
586
625
574
613
578
641
609
664
739
711
Operating margin
29.3%
22.9%
18.0%
23.3%
0.7%
18.2%
27.1%
22.4%
19.2%
9.1%
22.2%
25.0%
24.3%
26.4%
25.4%
20.2%
6.7%
Depreciation (m)
108
103
112
126
137
124
120
138
142
135
137
139
139
140
151
141
146
Net profit (m)
35
59
56
43
(118)
21
94
40
178
11
70
75
192
97
77
173
192
Income tax rate
1.6%
0.3%
0.3%
0.3%
8.7%
5.4%
5.1%
0.9%
0.2%
(1.0)%
1.6%
(0.5)%
(0.1)%
0.3%
0.2%
0.3%
0.2%
Net profit margin
8.5%
10.0%
7.3%
7.6%
(21.1)%
4.0%
17.9%
6.9%
28.5%
2.0%
11.4%
12.9%
29.9%
16.0%
11.5%
23.4%
27.5%
Working capital (m)
37
(2,035)
(67)
(22)
170
76
27
204
332
73
33
(3)
(110)
127
(19)
(17)
155
Long-term debt (m)
1,867
- -
2,324
2,426
2,019
1,928
1,920
2,078
1,904
1,828
1,824
1,831
1,975
2,226
- -
- -
2,158
Equity (m)
933
1,028
1,227
1,135
1,365
1,426
1,451
1,545
1,523
1,386
1,585
1,679
1,661
1,623
1,661
1,682
1,726
ROIC
1.2%
13.5%
3.9%
4.0%
(0.7)%
3.0%
4.7%
3.4%
7.4%
2.7%
4.1%
4.1%
7.1%
4.2%
3.4%
5.8%
1.2%
Return on capital
1.2%
4.3%
3.7%
3.8%
(0.8)%
3.1%
4.8%
3.3%
7.1%
2.6%
4.0%
3.9%
6.4%
3.9%
3.3%
5.5%
1.1%
Return on equity
3.7%
5.7%
4.6%
3.8%
(8.6)%
1.5%
6.5%
2.6%
11.7%
0.8%
4.4%
4.4%
11.5%
6.0%
4.6%
10.3%
11.2%
Plowback ratio
(145.7)%
(63.2)%
(94.7)%
(175.9)%
217.8%
(416.0)%
(22.5)%
(180.9)%
33.9%
(934.6)%
(69.0)%
(53.0)%
36.0%
(26.7)%
(61.4)%
100.0%
36.8%
Div.&Repurch./FCF
(36.1)%
(88.8)%
(164.7)%
(35.9)%
- -
(24.6)%
31.2%
7.8%
49.4%
4.5%
119.4%
(56.2)%
37.4%
64.3%
56.4%
- -
50.1%
Capital Structure
3 May · 2023 | Q1
All numbers in millions
Total liabilities
$ 2,384
Total assets
$ 4,178
Long-term debt
$ 2,158
Cash and equiv.
$ 15
Goodwill
$ - -
Retained earnings
$ (761)
Common stock
- -
Enterprise Value
$ 4,808
Working Capital
Currency: USD, in millions
2021
2022
2022
Cash & Investments
13
13
12
Receivables
232
164
168
Inventory
- -
- -
- -
Other
217
(1)
(1)
Current assets
462
177
181
Acc. Payable
186
157
158
Debt due
76
29
29
Other
73
9
11
Current liabilities
335
195
198
Annual growth rates
(avg. rate of change)
1 year
5 years
10 years
Revenue
11.22%
6.55%
4.20%
Cash flow
- -
- -
- -
Earnings
126.06%
53.02%
102.63%
Dividends
- -
- -
- -
Book value
1.23%
0.06%
1.84%
Insider Trading
Type
Shares
Date
Denton Robert L
Conversion
1,500
05/22/23
Denton Robert L
Sale
3,941
05/17/23
Trimberger Lisa G
Award
4,523
05/11/23
Pickett C Taylor
Award
4,523
05/11/23
Owens Raymond Lee
Award
4,523
05/11/23
Quarterly Revenue
Currency: USD, in millions
Year
1Q
2Q
3Q
4Q
Total
2021
162
164
175
164
664
2022
195
186
183
175
739
2023
168
- -
- -
- -
- -
Earnings per share
Currency: USD
Year
1Q
2Q
3Q
4Q
Total
2021
(0.05)
0.38
0.24
0.10
0.67
2022
0.28
0.29
0.28
0.45
1.29
2023
Infinity
- -
- -
- -
- -
Quarterly dividends paid
Currency: USD
Year
1Q
2Q
3Q
4Q
Total
2021
0.28
0.28
0.28
0.28
1.11
2022
0.28
0.28
0.28
0.28
1.10
2023
Infinity
- -
- -
- -
- -
Company Description
Sector:
Real Estate
Industry:
REIT—Office
CEO:
Mr. Stephen E. Budorick
Full-time employees:
395
City:
Columbia
Address:
6711 Columbia Gateway Drive
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, 2020, the Company derived 87% of its core portfolio annualized rental revenue from Defense/IT Locations and 13% from its Regional Office Properties. As of the same date and including 17 properties owned through unconsolidated joint ventures, COPT's core portfolio of 179 office and data center shell properties encompassed 20.8 million square feet and was 95.0% leased; the Company also owned one wholesale data center with a critical load of 19.25 megawatts that was 86.7% leased.