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Complete financial analysis of Corporate Office Properties Trust (OFC) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Corporate Office Properties Trust, a leading company in the REIT – Office industry within the Real Estate sector.
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Corporate Office Properties Trust (OFC)
About Corporate Office Properties Trust
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.
| Metric | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 | 1995 | 1994 | 1993 | 1992 | 1991 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 684.98M | 739.03M | 664.45M | 609.37M | 641.23M | 578.11M | 612.82M | 574.33M | 625.47M | 586.47M | 523.36M | 528.01M | 556.84M | 564.48M | 767.52M | 588.02M | 410.17M | 361.40M | 329.15M | 243.48M | 174.42M | 151.88M | 129.41M | 108.99M | 81.11M | 40.21M | 6.62M | 2.50M | 2.50M | 2.20M | 1.20M | 600.00K | 100.00K |
| Cost of Revenue | 8.93M | 518.62M | 454.97M | 409.65M | 445.17M | 396.48M | 424.81M | 375.73M | 437.22M | 416.08M | 339.29M | 351.22M | 268.47M | 281.72M | 157.31M | 325.28M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 676.05M | 220.41M | 209.47M | 199.72M | 196.05M | 181.64M | 188.01M | 198.60M | 188.25M | 170.40M | 184.07M | 176.79M | 288.37M | 282.75M | 610.21M | 262.74M | 410.17M | 361.40M | 329.15M | 243.48M | 174.42M | 151.88M | 129.41M | 108.99M | 81.11M | 40.21M | 6.62M | 2.50M | 2.50M | 2.20M | 1.20M | 600.00K | 100.00K |
| Gross Profit Ratio | 98.70% | 29.82% | 31.53% | 32.77% | 30.57% | 31.42% | 30.68% | 34.58% | 30.10% | 29.05% | 35.17% | 33.48% | 51.79% | 50.09% | 79.50% | 44.68% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% |
| Research & Development | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| General & Administrative | 31.11M | 38.99M | 40.77M | 37.47M | 39.64M | 34.74M | 37.05M | 44.80M | 44.87M | 37.37M | 36.31M | 37.61M | 25.84M | 24.01M | 359.76M | 0.00 | 20.52M | 16.94M | 13.53M | 10.94M | 7.89M | 6.70M | 5.29M | 4.87M | 3.20M | 1.89M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Selling & Marketing | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 3.20M | 4.20M | 3.70M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| SG&A | 31.11M | 38.99M | 40.77M | 37.47M | 39.64M | 34.74M | 37.05M | 44.80M | 44.87M | 37.37M | 36.31M | 37.61M | 29.04M | 28.21M | 520.77M | 25.33M | 20.52M | 16.94M | 13.53M | 10.94M | 7.89M | 6.70M | 5.29M | 4.87M | 3.20M | 1.89M | 533.00K | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 200.00K |
| Other Expenses | 207.35M | 271.00K | -1.13M | -933.00K | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Operating Expenses | 238.45M | 39.26M | 39.65M | 36.54M | 39.64M | 34.74M | 37.05M | 44.80M | 44.87M | 37.37M | 36.31M | 37.61M | 156.48M | 151.44M | 629.38M | 128.05M | 289.93M | 247.50M | 229.14M | 152.89M | 52.76M | 70.44M | 49.93M | 54.46M | 38.58M | 18.87M | 3.95M | -2.20M | -2.20M | -2.00M | -1.00M | -500.00K | 200.00K |
| Cost & Expenses | 247.39M | 557.89M | 494.62M | 446.19M | 484.82M | 431.22M | 461.86M | 420.53M | 482.08M | 453.45M | 375.59M | 388.83M | 424.95M | 433.16M | 629.38M | 453.33M | 289.93M | 247.50M | 229.14M | 152.89M | 52.76M | 70.44M | 49.93M | 54.46M | 38.58M | 18.87M | 3.95M | -2.20M | -2.20M | -2.00M | -1.00M | -500.00K | 200.00K |
| Interest Income | 0.00 | 9.34M | 7.88M | 8.57M | 7.89M | 4.36M | 6.32M | 5.44M | 4.52M | 4.92M | 3.83M | 7.17M | 5.60M | 9.57M | 5.16M | 2.07M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest Expense | -71.14M | 61.17M | 65.40M | 67.94M | 71.05M | 75.39M | 76.98M | 83.16M | 89.07M | 92.39M | 76.56M | 88.38M | 101.28M | 101.87M | 82.21M | 83.65M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Depreciation & Amortization | 149.00M | 143.59M | 150.64M | 140.03M | 137.07M | 137.12M | 134.23M | 132.72M | 140.03M | 136.09M | 119.77M | 124.42M | 127.44M | 123.24M | 108.61M | 102.72M | 107.63M | 80.07M | 63.56M | 51.90M | 37.14M | 29.00M | 20.98M | 16.98M | 12.08M | 6.29M | 1.27M | 600.00K | 500.00K | 500.00K | 300.00K | 100.00K | 0.00 |
| EBITDA | 4.31M | 228.01M | 149.42M | 168.46M | 264.17M | 153.95M | 160.16M | 171.76M | 78.28M | 138.18M | 100.06M | 26.43M | 264.60M | 265.49M | 251.91M | 239.48M | 58.51M | 55.67M | 44.77M | 147.35M | 68.22M | 130.81M | 127.19M | 72.78M | 55.58M | 28.06M | 3.94M | 5.30M | 5.20M | 4.70M | 2.50M | 1.20M | -100.00K |
| EBITDA Ratio | 0.55% | 26.01% | 26.91% | 28.48% | 25.88% | 26.63% | 26.13% | 27.96% | 23.66% | 23.56% | 51.21% | 50.00% | 47.52% | 47.03% | 32.82% | 40.73% | 56.78% | 54.46% | 50.37% | 60.52% | 121.00% | 86.12% | 98.28% | 66.78% | 68.53% | 69.76% | 59.53% | 212.00% | 208.00% | 213.64% | 208.33% | 200.00% | -100.00% |
| Operating Income | -74.35M | 48.64M | 28.16M | 33.54M | 28.87M | 144.53M | 135.84M | 52.41M | 120.09M | 131.61M | 141.91M | 95.97M | 4.12M | 131.31M | 138.14M | 134.69M | 120.25M | 113.91M | 100.00M | 90.59M | 121.66M | 81.44M | 79.48M | 54.53M | 42.53M | 21.35M | 2.67M | 4.70M | 4.70M | 4.20M | 2.20M | 1.10M | -100.00K |
| Operating Income Ratio | -10.85% | 6.58% | 4.24% | 5.50% | 4.50% | 25.00% | 22.17% | 9.13% | 19.20% | 22.44% | 27.12% | 18.17% | 0.74% | 23.26% | 18.00% | 22.91% | 29.32% | 31.52% | 30.38% | 37.20% | 69.75% | 53.62% | 61.41% | 50.03% | 52.44% | 53.08% | 40.39% | 188.00% | 188.00% | 190.91% | 183.33% | 183.33% | -100.00% |
| Total Other Income/Expenses | 849.00K | 101.06M | -948.00K | -59.31M | 42.07M | -68.95M | -68.30M | -77.50M | -85.50M | -96.79M | -103.10M | -88.94M | -127.50M | -90.92M | -77.04M | -76.22M | -84.68M | -65.57M | -61.64M | -46.69M | -93.33M | -59.44M | -59.51M | 107.00K | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Income Before Tax | -73.50M | 149.70M | 78.37M | 103.23M | 199.79M | 75.94M | 67.54M | -25.09M | 120.87M | 34.82M | 38.81M | 7.02M | -123.38M | 40.39M | 61.09M | 63.49M | 35.57M | 39.68M | 41.11M | 43.89M | 28.33M | 22.00M | 19.97M | 54.64M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Income Before Tax Ratio | -10.73% | 20.26% | 11.79% | 16.94% | 31.16% | 13.14% | 11.02% | -4.37% | 19.33% | 5.94% | 7.42% | 1.33% | -22.16% | 7.16% | 7.96% | 10.80% | 8.67% | 10.98% | 12.49% | 18.03% | 16.24% | 14.49% | 15.43% | 50.13% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Income Tax Expense | -588.00K | 447.00K | 145.00K | 353.00K | -217.00K | -363.00K | 1.10M | 244.00K | 199.00K | 310.00K | 1.98M | 381.00K | -10.68M | 108.00K | 196.00K | 201.00K | 569.00K | 887.00K | 668.00K | 795.00K | -124.00K | -242.00K | -269.00K | 40.78M | 28.43M | 17.07M | 3.64M | 4.40M | 4.40M | 3.90M | 2.00M | 1.00M | 200.00K |
| Net Income | -73.47M | 173.03M | 76.54M | 97.37M | 191.69M | 72.30M | 70.09M | 11.44M | 178.30M | 40.26M | 93.71M | 20.98M | -117.68M | 42.76M | 56.33M | 58.67M | 34.78M | 49.23M | 39.03M | 37.03M | 30.88M | 23.30M | 19.92M | 15.13M | 15.08M | 4.70M | -967.00K | 300.00K | 300.00K | 300.00K | 200.00K | 100.00K | -200.00K |
| Net Income Ratio | -10.73% | 23.41% | 11.52% | 15.98% | 29.89% | 12.51% | 11.44% | 1.99% | 28.51% | 6.86% | 17.90% | 3.97% | -21.13% | 7.58% | 7.34% | 9.98% | 8.48% | 13.62% | 11.86% | 15.21% | 17.70% | 15.34% | 15.39% | 13.89% | 18.60% | 11.68% | -14.61% | 12.00% | 12.00% | 13.64% | 16.67% | 16.67% | -200.00% |
| EPS | -0.65 | 1.54 | 0.68 | 0.87 | 1.72 | 0.69 | 0.71 | 0.12 | 1.90 | 0.46 | 1.10 | 0.29 | -1.70 | 0.72 | 1.01 | 1.22 | 0.75 | 1.18 | 1.04 | 1.12 | 1.17 | 1.04 | 0.99 | 0.80 | 0.89 | 2.07 | -0.58 | 0.21 | 0.19 | 0.21 | 0.17 | 0.19 | -0.28 |
| EPS Diluted | -0.65 | 1.53 | 0.68 | 0.87 | 1.71 | 0.69 | 0.71 | 0.12 | 1.83 | 0.46 | 1.10 | 0.29 | -1.70 | 0.71 | 1.00 | 1.20 | 0.73 | 1.13 | 1.01 | 1.06 | 1.09 | 0.99 | 0.96 | 0.79 | 0.81 | 2.07 | -0.58 | 0.21 | 0.19 | 0.21 | 0.17 | 0.19 | -0.28 |
| Weighted Avg Shares Out | 112.18M | 112.07M | 111.96M | 111.79M | 111.20M | 103.95M | 98.97M | 94.50M | 93.91M | 88.09M | 85.17M | 73.45M | 69.38M | 59.61M | 55.93M | 48.13M | 46.53M | 41.57M | 37.56M | 33.14M | 26.38M | 22.32M | 20.10M | 18.89M | 16.98M | 2.27M | 1.67M | 1.43M | 1.58M | 1.43M | 1.18M | 526.32K | 710.00K |
| Weighted Avg Shares Out (Dil) | 112.18M | 112.62M | 112.42M | 112.08M | 111.62M | 104.13M | 99.16M | 94.50M | 97.67M | 88.26M | 85.22M | 73.45M | 69.38M | 59.94M | 56.41M | 48.87M | 47.63M | 43.37M | 38.76M | 34.98M | 28.33M | 23.51M | 20.74M | 19.21M | 18.53M | 2.27M | 1.67M | 1.43M | 1.58M | 1.43M | 1.18M | 526.32K | 710.00K |
COPT Provides Conference Call Details to Discuss 2Q 2022 Results
COLUMBIA, Md.--(BUSINESS WIRE)--Corporate Office Properties Trust (NYSE: OFC) (“COPT” or the “Company”) announces the release date and conference call details in which management will discuss second quarter 2022 results: Results Release Date: Thursday, July 28, 2022 after the market closes...
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COPT to Present at Nareit's REITweek: 2022 Investor Conference
COLUMBIA, Md.--(BUSINESS WIRE)--Corporate Office Properties Trust (NYSE: OFC) (“COPT” or the “Company”) announced that its President and CEO, Stephen E. Budorick, will provide an update on the Company and participate in a question and answer session at Nareit's REITweek: 2022...
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COPT Declares 98th Consecutive Common Dividend
COLUMBIA, Md.--(BUSINESS WIRE)--Corporate Office Properties Trust (NYSE: OFC) (“COPT” or the “Company”) announced today that its Board of Trustees declared a regular quarterly dividend of $0.275 per common share for the second quarter ending June 30, 2022. The second quarter...
Corporate Office Properties Trust (OFC) CEO Steve Budorick on Q1 2022 Results - Earnings Call Transcript
Corporate Office Properties Trust (NYSE:OFC ) Q1 2022 Results Conference Call April 29, 2022 12:00 PM ET Company Participants Stephanie Krewson-Kelly - VP, IR Steve Budorick - President, CEO Anthony Mifsud - EVP, CFO Todd Hartman - EVP, COO Conference...
COPT 1Q 2022 Results Exceed Guidance
COLUMBIA, Md.--(BUSINESS WIRE)--Corporate Office Properties Trust (“COPT” or the “Company”) (NYSE: OFC) announced results for the first quarter ended March 31, 2022. Management Comments Stephen E. Budorick, COPT’s President & Chief Executive Officer, commented, “Our strategy of prioritizing capital allocation...
COPT 1Q 2022 Results Exceed Guidance
COLUMBIA, Md.--(BUSINESS WIRE)--Corporate Office Properties Trust (“COPT” or the “Company”) (NYSE: OFC) announced results for the first quarter ended March 31, 2022. Management Comments Stephen E. Budorick, COPT's President & Chief Executive Officer, commented, “Our strategy of prioritizing capital allocation...
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COPT Provides Conference Call Details to Discuss 1Q 2022 Results
COLUMBIA, Md.--(BUSINESS WIRE)--Corporate Office Properties Trust (NYSE: OFC) (“COPT” or the “Company”) announces the release date and conference call details in which management will discuss first quarter 2022 results. Conference call details are as follows: Results & Guidance Release Date:...
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