Corporate Office Properties Trust President & CEO Stephen Budorick Interviewed by Advisor Access


SAN FRANCISCO, CA--(Marketwired - April 18, 2017) - Corporate Office Properties Trust (COPT) (NYSE: OFC) is an office REIT headquartered in Columbia, Maryland. As of December 31, 2016, COPT's core portfolio of 152 office properties encompassed 16.3 million square feet and was 94.4% leased. What differentiates COPT from other office REITs is its unique franchise of US-government, information technology-oriented locations (Defense/IT locations).

  • Positive outlook for defense spending in the United States supports expectations for increased demand for COPT's unique locations and, by extension, attractive cash flow growth
  • Ownership and control of the most relevant land locations limits competition for other landlords and is a significant competitive advantage
  • A five-year development track record of delivering approximately 800,000 square feet annually that have been 90% leased, on average
  • An attractive and secure quarterly dividend of $0.275/share represents a 3.8% yield and a 1.4 percentage point premium to the 2.4% yield from 10-year US Treasuries
  • An investment grade-rated balance sheet supports future growth through development, and ensures dividend safety

Click here to view the COPT Corporate Fact Sheet
Click here to view the COPT Investor Presentation

Advisor Access spoke with Corporate Office Properties' President and CEO, Stephen Budorick, about the trust's business model and growth strategy.

Advisor Access: COPT has a unique office portfolio because of its focus on defense-related tenants. Can you provide more color on this franchise?

Stephen Budorick: As of Dec. 31, 2016, we derived 87% of our business from Defense/IT locations, which encompass 14.3 million square feet of office space and more than 1 million acres of strategic developable land. Our buildings and land positions are unique, as is our decades-long track record of successful execution and mutual trust with our US government customers. An important distinction is that the government locations we support are not involved with weapons manufacturing or in the training and deployment of troops; rather, the missions involve high-tech, R&D, and cybersecurity aspects of national defense.

AA: Does the US government lease space with you through the General Services Administration (GSA)?

AA: How many Defense/IT locations does COPT have, and where are they located?

Read the complete answers to these questions and the full interview with COPT HERE.

About Advisor Access:

Advisor-Access LLC brings compelling investment ideas to investors in the form of in-depth interviews with company management and the latest fact sheets and corporate presentations.

DISCLOSURE: COPT has paid Advisor Access a fee to distribute this email. Stephen Budorick had final approval of the content and is wholly responsible for the validity of the statements and opinions.

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Rick Baggelaar