Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Thu, December 2, 11:26 AM
|This Slide: #493 of 573|
Slide #493. Corporate Office Properties Trust — Preferred Stock Offering
Corporate Office Properties Trust (NYSE:OFC)
Preferred Stock Offering Details:
Corporate Office Properties Trust (COPT or the Company) (NYSE:OFC) has commenced a public offering of 3,900,000 of its common shares of beneficial interest. The Company intends to use the proceeds to redeem its outstanding 7.625% Series J Cumulative Redeemable Preferred Shares (NYSE:OFCPrJ), repay amounts outstanding under its unsecured revolving credit facility and for general corporate purposes. Completion of the offering is subject to customary closing conditions. BofA Merrill Lynch is acting as the book-running manager for the common share offering, and may offer the common shares from time to time for sale in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices.
Corporate Office Properties Trust is a real estate investment trust. Corporate Office Properties, L.P. (COPLP) and subsidiaries is the entity through which Co., the sole general partner of COPLP, conducts almost all of its operations and owns almost all of its assets. Co. owns, manages, leases, develops and selectively acquires office and data center properties. The majority of Co.'s portfolio is in locations that support the U.S. Government and its contractors that engaged in national security, defense and information technology related activities servicing. Co. also owns a portfolio of office properties in select urban/urban-like submarkets in the Greater Washington, DC/Baltimore region.
Open the OFC Page at Preferred Stock Channel »
Free OFC Email Alerts:
Get Dividend Alerts
Get SEC Filing Alerts
Strong Buy (3.70 out of 4)
(ranked higher than approx. 64% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com