OFC - Corporate Office Properties: Going On The Offensive With Defensive Properties
Investment Thesis
Corporate Office Properties Trust (OFC) has weathered the pandemic-induced economic crisis virtually unscathed. The company operates a recession-resistant business model that is largely uncorrelated with the general economic cycle. Its 169 mission-critical properties are leased primarily to Defense/IT tenants that support the government’s defense and national security operations. While COPT is unlikely to provide exciting tech company-like results, I believe it has a strong growth runway ahead, while providing investors with a steady stream of dividend income.
Latest Results
COPT had a good Q1 amidst the pandemic, with FFO coming in