REITs have seen a decent rally over the past several months, but it appears that Corporate Office Properties Trust (OFC) didn't get the memo. OFC's stock price hasn't really done much of anything since the middle of November, and I don't see that as being a bad thing. That's because this gives long-term, income-oriented investors an opportunity to pick up this quality name on the cheap. In this article, I evaluate what makes OFC a good buy at present, so let's get started.

Corporate Office Properties is a REIT that owns and leases office and data center properties leased primarily to the U.S. government and its contractors, most of whom are engaged in defense and IT-related activities. As December 31, 2020, OFC derived 87% of its annual rental revenue from Defense/IT locations, with the remaining 13% stemming from regional office properties. In 2020, OFC generated $611M in total revenue.

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