OFC - Corporate Office Properties Trust: The Winning Streak Continues (OFC)
Shares of Corporate Office Properties Trust (NYSE:OFC) traded today at $30.31, eclipsing its 52-week high. Approximately 513,000 shares have changed hands today, as compared to an average 30-day volume of 991,000 shares.
Corporate Office Properties Trust share prices have moved between a 52-week high of $30.31 and a 52-week low of $21.68 and are now trading 38% above that low price at $29.97 per share.
Corporate Office Properties Trust has overhead space with shares priced $29.97, or 31.8% below the average consensus analyst price target of $43.95.
Corporate Office Properties Trust, or COPT, is a real estate investment trust that acquires, manages, and leases office and data center properties throughout the U.S. The majority of the company's real estate portfolio is composed of office buildings in the Baltimore-Washington Corridor and Northern Virginia area. COPT derives nearly all of its income in the form of rental revenue from tenants. Most of the company's revenue comes from the leasing of properties to U.S. Government agencies and its contractors in the national security, defense, and IT sectors, such as Northrop Grumman and Boeing. Regional offices in urban submarkets make also make up a sizable percentage of COPT's total square footage.
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