COPT Announces Fourth Quarter and Year End 2017 Earnings Conference Call
January 16 2018 - 8:00AM
Business Wire
Corporate Office Properties Trust (“COPT” or the “Company”)
(NYSE: OFC) announces its fourth quarter and year end 2017 earnings
release and conference call will take place as follows:
Fourth Quarter & Year End
2017:
Earnings Release Date: Thursday, February 8, 2018 after the market
closes Conference Call Date: Friday, February 9, 2018
Time: 12:00 p.m. Eastern Time Telephone Number: (within the
U.S.) 855-463-9057 Telephone Number: (outside the U.S.)
661-378-9894 Passcode: 8784659
The conference call will also be available via live webcast in
the ‘Investors’ section of the Company’s website at
www.copt.com.
Replay Information
A replay of this call will be available beginning at 3:00 p.m.
Eastern Time on Friday, February 9, through 3:00 p.m. Eastern Time
on Friday, February 23. To access the replay within the United
States, please call 855-859-2056 and use passcode 8784659. To
access the replay outside the United States, please call
404-537-3406 and use passcode 8784659. A replay of the conference
call will also be available immediately after the call on the
‘Investors’ section of the Company’s website.
Company Information
COPT is an office REIT that owns, manages, develops and
selectively acquires office and data center properties 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 priority missions
(“Defense/IT Locations”). The Company also owns a portfolio of
office properties located in select urban/urban-like submarkets
within its regional footprint with durable Class-A office
fundamentals and characteristics (“Regional Office Properties”). As
of September 30, 2017, the Company derived 87% of core portfolio
annualized revenue from Defense/IT Locations and 13% from its
Regional Office Properties. As of September 30, 2017 and including
six buildings owned through an unconsolidated joint venture, COPT’s
core portfolio of 153 office properties encompassed 16.7 million
square feet and was 95.1% leased. As of the same date, the Company
also owned one wholesale data center with a critical load of 19.25
megawatts.
Forward-Looking
Information
This press release may contain “forward-looking” statements, as
defined in Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934, that are based on the
Company’s current expectations, estimates and projections about
future events and financial trends affecting the Company.
Forward-looking statements can be identified by the use of words
such as “may,” “will,” “should,” “could,” “believe,” “anticipate,”
“expect,” “estimate,” “plan” or other comparable terminology.
Forward-looking statements are inherently subject to risks and
uncertainties, many of which the Company cannot predict with
accuracy and some of which the Company might not even anticipate.
Accordingly, the Company can give no assurance that these
expectations, estimates and projections will be achieved. Future
events and actual results may differ materially from those
discussed in the forward-looking statements.
Important factors that may affect these expectations, estimates,
and projections include, but are not limited to:
- general economic and business
conditions, which will, among other things, affect office property
and data center demand and rents, tenant creditworthiness, interest
rates, financing availability and property values;
- adverse changes in the real estate
markets including, among other things, increased competition with
other companies;
- governmental actions and initiatives,
including risks associated with the impact of a prolonged
government shutdown or budgetary reductions or impasses, such as a
reduction in rental revenues, non-renewal of leases, and/or a
curtailment of demand for additional space by the Company's
strategic customers;
- the Company’s ability to borrow on
favorable terms;
- risks of real estate acquisition and
development activities, including, among other things, risks that
development projects may not be completed on schedule, that tenants
may not take occupancy or pay rent or that development or operating
costs may be greater than anticipated;
- risks of investing through joint
venture structures, including risks that the Company’s joint
venture partners may not fulfill their financial obligations as
investors or may take actions that are inconsistent with the
Company’s objectives;
- changes in the Company’s plans for
properties or views of market economic conditions or failure to
obtain development rights, either of which could result in
recognition of significant impairment losses;
- the Company’s ability to satisfy and
operate effectively under Federal income tax rules relating to real
estate investment trusts and partnerships;
- the Company's ability to achieve
projected results;
- the dilutive effects of issuing
additional common shares; and
- environmental requirements.
The Company undertakes no obligation to update or supplement any
forward-looking statements. For further information, please refer
to the Company’s filings with the Securities and Exchange
Commission, particularly the section entitled “Risk Factors” in
Item 1A of the Company’s Annual Report on Form 10-K for the year
ended December 31, 2016.
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version on businesswire.com: http://www.businesswire.com/news/home/20180116005245/en/
Corporate Office Properties TrustIR Contacts:Stephanie
Krewson-Kelly, 443-285-5453stephanie.kelly@copt.comorMichelle
Layne, 443-285-5452michelle.layne@copt.com
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