Corporate Office Properties Trust (NYSE:OFC) Updates Q4 2020 After-Hours Earnings Guidance

Corporate Office Properties Trust (NYSE:OFC) issued an update on its fourth quarter 2020
After-Hours earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.52-0.54 for the period. Corporate Office Properties Trust also updated its FY 2020
After-Hours guidance to 2.05-2.09 EPS.

OFC opened at $26.48 on Friday. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 1.26. The firm has a 50 day moving average price of $25.44 and a 200-day moving average price of $25.81. Corporate Office Properties Trust has a twelve month low of $15.23 and a twelve month high of $30.57. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of 26.75, a PEG ratio of 2.91 and a beta of 1.03.

Corporate Office Properties Trust (NYSE:OFC) last released its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.29). Corporate Office Properties Trust had a net margin of 18.34% and a return on equity of 6.58%. The company had revenue of $144.77 million for the quarter, compared to analysts’ expectations of $146.18 million. As a group, analysts expect that Corporate Office Properties Trust will post 2.06 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.275 per share. The ex-dividend date was Monday, June 29th. This represents a $1.10 annualized dividend and a dividend yield of 4.15%. Corporate Office Properties Trust’s payout ratio is 54.19%.

Several research analysts have recently weighed in on OFC shares. KeyCorp raised shares of Corporate Office Properties Trust from an underweight rating to a sector weight rating in a report on Thursday, July 9th. JPMorgan Chase & Co. raised shares of Corporate Office Properties Trust from a neutral rating to an overweight rating and upped their target price for the company from $26.00 to $29.00 in a report on Thursday, July 2nd. SunTrust Banks upped their target price on shares of Corporate Office Properties Trust from $26.00 to $28.00 and gave the company a hold rating in a report on Monday, May 11th. Bank of America raised shares of Corporate Office Properties Trust from a neutral rating to a buy rating and upped their target price for the company from $23.00 to $29.00 in a report on Monday, April 6th. Finally, Robert W. Baird upped their target price on shares of Corporate Office Properties Trust from $24.00 to $28.00 and gave the company an outperform rating in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $28.23.

About Corporate Office Properties Trust

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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