Analysts Anticipate Corporate Office Properties Trust (NYSE:OFC) to Post $0.50 Earnings Per Share

Equities research analysts forecast that Corporate Office Properties Trust (NYSE:OFC) will post $0.50 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Corporate Office Properties Trust’s earnings. The lowest EPS estimate is $0.49 and the highest is $0.51. Corporate Office Properties Trust also posted earnings per share of $0.50 in the same quarter last year. The company is expected to issue its next earnings results after the market closes on Monday, October 28th.

According to Zacks, analysts expect that Corporate Office Properties Trust will report full-year earnings of $2.03 per share for the current financial year, with EPS estimates ranging from $2.02 to $2.05. For the next year, analysts expect that the firm will report earnings of $2.10 per share, with EPS estimates ranging from $2.06 to $2.12. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow Corporate Office Properties Trust.

Corporate Office Properties Trust (NYSE:OFC) last released its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.44. The business had revenue of $175.07 million during the quarter, compared to analyst estimates of $151.18 million. Corporate Office Properties Trust had a net margin of 27.67% and a return on equity of 10.04%. Corporate Office Properties Trust’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.51 EPS.

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. lowered shares of Corporate Office Properties Trust from an “overweight” rating to a “neutral” rating and set a $30.00 target price for the company. in a research report on Tuesday, October 8th. Stifel Nicolaus set a $30.00 target price on shares of Corporate Office Properties Trust and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Zacks Investment Research raised shares of Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Citigroup boosted their target price on shares of Corporate Office Properties Trust from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Robert W. Baird set a $31.00 target price on shares of Corporate Office Properties Trust and gave the stock a “buy” rating in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $28.38.

Corporate Office Properties Trust stock opened at $29.12 on Monday. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of 14.49, a P/E/G ratio of 3.14 and a beta of 0.86. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.72 and a quick ratio of 1.72. Corporate Office Properties Trust has a fifty-two week low of $20.03 and a fifty-two week high of $30.12. The firm has a fifty day moving average price of $29.18 and a two-hundred day moving average price of $28.18.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend was Friday, September 27th. Corporate Office Properties Trust’s dividend payout ratio is currently 54.73%.

In other news, Director Robert L. Denton sold 2,432 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $29.63, for a total transaction of $72,060.16. Following the completion of the transaction, the director now owns 269,568 shares of the company’s stock, valued at $7,987,299.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Greg J. Thor sold 2,507 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $29.11, for a total transaction of $72,978.77. Following the transaction, the chief accounting officer now directly owns 22,558 shares of the company’s stock, valued at approximately $656,663.38. The disclosure for this sale can be found here. Insiders have sold 8,939 shares of company stock valued at $255,959 in the last ninety days. 0.60% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Corporate Office Properties Trust by 1.0% during the second quarter. Vanguard Group Inc. now owns 16,346,528 shares of the real estate investment trust’s stock valued at $431,057,000 after buying an additional 160,992 shares during the last quarter. BlackRock Inc. raised its position in shares of Corporate Office Properties Trust by 1.2% during the second quarter. BlackRock Inc. now owns 12,752,454 shares of the real estate investment trust’s stock valued at $336,282,000 after buying an additional 155,808 shares during the last quarter. FMR LLC raised its position in shares of Corporate Office Properties Trust by 33.1% during the first quarter. FMR LLC now owns 12,463,394 shares of the real estate investment trust’s stock valued at $340,250,000 after buying an additional 3,096,607 shares during the last quarter. Earnest Partners LLC acquired a new position in shares of Corporate Office Properties Trust during the second quarter valued at about $88,527,000. Finally, Renaissance Technologies LLC raised its position in shares of Corporate Office Properties Trust by 64.9% during the second quarter. Renaissance Technologies LLC now owns 1,901,607 shares of the real estate investment trust’s stock valued at $50,145,000 after buying an additional 748,300 shares during the last quarter. 97.24% of the stock is owned by institutional investors and hedge funds.

Corporate Office Properties Trust Company Profile

COPT is a REIT that owns, manages, leases, 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 what it believes are growing, durable, priority missions (“Defense/IT Locations”).

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Earnings History and Estimates for Corporate Office Properties Trust (NYSE:OFC)

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