Corporate Office Properties Trust (OFC, Financial) filed Annual Report for the period ended 2010-12-31.
Corporate Office Properties Trust has a market cap of $2.11 billion; its shares were traded at around $35.13 with a P/E ratio of 16.2 and P/S ratio of 2.7. The dividend yield of Corporate Office Properties Trust stocks is 4.7%. Corporate Office Properties Trust had an annual average earning growth of 2.1% over the past 5 years.Hedge Fund Gurus that owns OFC: Manning & Napier Advisors, Inc, Kenneth Fisher of Fisher Asset Management, LLC. Mutual Fund and Other Gurus that owns OFC: Columbia Wanger of Columbia Wanger Asset Management, Chris Davis of Davis Selected Advisers, Chris Davis of Davis Selected Advisers, Pioneer Investments.
finished the period with our wholly owned portfolio of operating office properties 88.2% occupied; acquired three operating office properties totaling 514,000 square feet and a shell-complete office property totaling 183,000 square feet for $205.1 million; placed into service an aggregate of 816,000 square feet in newly constructed space in nine office properties; completed the formation of LW Redstone Company, LLC, a joint venture created to develop Redstone Gateway, a 468-acre master-planned office business park adjacent to Redstone Arsenal in Huntsville, Alabama; entered the Springfield, Virginia submarket by acquiring 15 acres on which we are entitled to develop up to 978,000 square feet adjacent to the new National Geospatial Intelligence Agency (NGA) headquarters at Fort Belvoir; acquired a partially operational 233,000 square foot wholesale data center for $115.5 million that was 17% leased on the date of acquisition to two tenants that have a combined initial critical load of three megawatts and further expansion rights of up to a combined five megawatts. We expect to complete the development of the property to an initial stabilization critical load of 18 megawatts for additional development costs initially estimated at $166 million; issued a $240.0 million aggregate principal amount of 4.25% Exchangeable Senior Notes due in 2030, and redeemable by us, or subject to required repurchase upon request of the note holders, in April 2015 or thereafter as defined under the terms of the notes; issued 7.5 million common shares at a public offering price of $34.25 per share for net proceeds of $245.8 million after underwriting discounts but before offering expenses; and 5
increased the borrowing capacity under our unsecured revolving credit facility (the "Revolving Credit Facility") by $200.0 million, from $600.0 million to $800.0 million. In addition, our Board of Trustees, as part of an ongoing personnel development and succession program, elected Roger A. Waesche, Jr. to serve as President, in addition to his current duties as Chief Operating Officer. Randall M. Griffin, who had served as President and Chief Executive Officer, continued in his role as Chief Executive Officer.
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Corporate Office Properties Trust has a market cap of $2.11 billion; its shares were traded at around $35.13 with a P/E ratio of 16.2 and P/S ratio of 2.7. The dividend yield of Corporate Office Properties Trust stocks is 4.7%. Corporate Office Properties Trust had an annual average earning growth of 2.1% over the past 5 years.Hedge Fund Gurus that owns OFC: Manning & Napier Advisors, Inc, Kenneth Fisher of Fisher Asset Management, LLC. Mutual Fund and Other Gurus that owns OFC: Columbia Wanger of Columbia Wanger Asset Management, Chris Davis of Davis Selected Advisers, Chris Davis of Davis Selected Advisers, Pioneer Investments.
Highlight of Business Operations:
The aggregate market value of the voting and nonvoting common equity held by non-affiliates of the registrant was approximately $1.9 billion, as calculated using the closing price of the common shares of beneficial interest on the New York Stock Exchange and our outstanding shares as of June 30, 2010. For purposes of calculating this amount only, affiliates are defined as Trustees, executive owners and beneficial owners of more than 10% of the registrant's outstanding common shares of beneficial interest, $0.01 par value. At January 28, 2011, 66,938,717 of the registrant's common shares of beneficial interest were outstanding.finished the period with our wholly owned portfolio of operating office properties 88.2% occupied; acquired three operating office properties totaling 514,000 square feet and a shell-complete office property totaling 183,000 square feet for $205.1 million; placed into service an aggregate of 816,000 square feet in newly constructed space in nine office properties; completed the formation of LW Redstone Company, LLC, a joint venture created to develop Redstone Gateway, a 468-acre master-planned office business park adjacent to Redstone Arsenal in Huntsville, Alabama; entered the Springfield, Virginia submarket by acquiring 15 acres on which we are entitled to develop up to 978,000 square feet adjacent to the new National Geospatial Intelligence Agency (NGA) headquarters at Fort Belvoir; acquired a partially operational 233,000 square foot wholesale data center for $115.5 million that was 17% leased on the date of acquisition to two tenants that have a combined initial critical load of three megawatts and further expansion rights of up to a combined five megawatts. We expect to complete the development of the property to an initial stabilization critical load of 18 megawatts for additional development costs initially estimated at $166 million; issued a $240.0 million aggregate principal amount of 4.25% Exchangeable Senior Notes due in 2030, and redeemable by us, or subject to required repurchase upon request of the note holders, in April 2015 or thereafter as defined under the terms of the notes; issued 7.5 million common shares at a public offering price of $34.25 per share for net proceeds of $245.8 million after underwriting discounts but before offering expenses; and 5
increased the borrowing capacity under our unsecured revolving credit facility (the "Revolving Credit Facility") by $200.0 million, from $600.0 million to $800.0 million. In addition, our Board of Trustees, as part of an ongoing personnel development and succession program, elected Roger A. Waesche, Jr. to serve as President, in addition to his current duties as Chief Operating Officer. Randall M. Griffin, who had served as President and Chief Executive Officer, continued in his role as Chief Executive Officer.
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