Brokerages Anticipate Corporate Office Properties Trust (OFC) to Post $0.46 Earnings Per Share

Analysts expect that Corporate Office Properties Trust (NYSE:OFC) will post earnings per share of $0.46 for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Corporate Office Properties Trust’s earnings, with the highest EPS estimate coming in at $0.49 and the lowest estimate coming in at $0.45. Corporate Office Properties Trust reported earnings of $0.47 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 2.1%. The firm is scheduled to issue its next earnings results after the market closes on Thursday, April 27th.

According to Zacks, analysts expect that Corporate Office Properties Trust will report full year earnings of $2.05 per share for the current year, with EPS estimates ranging from $2.03 to $2.07. For the next fiscal year, analysts forecast that the firm will report earnings of $2.20 per share, with EPS estimates ranging from $2.16 to $2.21. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Corporate Office Properties Trust.

Corporate Office Properties Trust (NYSE:OFC) last announced its quarterly earnings results on Thursday, February 9th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.29. The firm had revenue of $141.99 million for the quarter, compared to analyst estimates of $128.02 million. Corporate Office Properties Trust had a net margin of 1.99% and a return on equity of 0.85%. The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 EPS.



A number of research firms have issued reports on OFC. Zacks Investment Research upgraded Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, March 22nd. SunTrust Banks, Inc. lowered Corporate Office Properties Trust from a “buy” rating to a “hold” rating and set a $32.00 price target on the stock. in a research note on Thursday, January 19th. They noted that the move was a valuation call. Mizuho lifted their price target on Corporate Office Properties Trust from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, February 13th. Evercore ISI lowered Corporate Office Properties Trust from a “hold” rating to an “underperform” rating in a research note on Friday, March 3rd. Finally, Stifel Nicolaus reissued a “hold” rating and set a $30.00 price target (up from $28.50) on shares of Corporate Office Properties Trust in a research note on Friday, December 23rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $32.50.

Shares of Corporate Office Properties Trust (NYSE:OFC) traded down 0.44% during midday trading on Friday, reaching $33.58. 841,014 shares of the company’s stock traded hands. The stock’s market cap is $3.30 billion. The stock has a 50 day moving average of $33.52 and a 200-day moving average of $30.80. Corporate Office Properties Trust has a 52-week low of $24.92 and a 52-week high of $34.56.

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 17th. Investors of record on Friday, March 31st were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date was Wednesday, March 29th. Corporate Office Properties Trust’s dividend payout ratio is currently -2,749.31%.

In related news, CAO Greg J. Thor sold 3,555 shares of Corporate Office Properties Trust stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $34.02, for a total value of $120,941.10. Following the transaction, the chief accounting officer now directly owns 14,853 shares of the company’s stock, valued at $505,299.06. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of OFC. BlackRock Advisors LLC raised its position in shares of Corporate Office Properties Trust by 1.7% in the third quarter. BlackRock Advisors LLC now owns 53,116 shares of the real estate investment trust’s stock valued at $1,506,000 after buying an additional 906 shares during the period. BlackRock Inc. raised its position in shares of Corporate Office Properties Trust by 7.5% in the third quarter. BlackRock Inc. now owns 171,975 shares of the real estate investment trust’s stock valued at $4,875,000 after buying an additional 11,927 shares during the period. Citadel Advisors LLC raised its position in shares of Corporate Office Properties Trust by 232.4% in the third quarter. Citadel Advisors LLC now owns 347,791 shares of the real estate investment trust’s stock valued at $9,860,000 after buying an additional 243,167 shares during the period. Riverhead Capital Management LLC raised its position in shares of Corporate Office Properties Trust by 256.5% in the third quarter. Riverhead Capital Management LLC now owns 6,000 shares of the real estate investment trust’s stock valued at $170,000 after buying an additional 4,317 shares during the period. Finally, BlackRock Investment Management LLC raised its position in shares of Corporate Office Properties Trust by 0.9% in the third quarter. BlackRock Investment Management LLC now owns 282,561 shares of the real estate investment trust’s stock valued at $8,011,000 after buying an additional 2,604 shares during the period. 97.98% of the stock is currently owned by hedge funds and other institutional investors.

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About Corporate Office Properties Trust

Corporate Office Properties Trust is a fully-integrated and self-managed real estate investment trust (REIT). The Company owns, manages, leases, develops and acquires office and data center properties. The Company’s segments are Defense/IT Locations; Regional Office; operating wholesale data center, and other.

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