Corporate Office Properties Trust (OFC) Expected to Announce Earnings of $0.50 Per Share

Share on StockTwits

Wall Street brokerages forecast that Corporate Office Properties Trust (NYSE:OFC) will announce earnings per share (EPS) of $0.50 for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Corporate Office Properties Trust’s earnings. The lowest EPS estimate is $0.48 and the highest is $0.50. Corporate Office Properties Trust posted earnings of $0.49 per share during the same quarter last year, which would indicate a positive year over year growth rate of 2%. The business is expected to report its next earnings results after the market closes on Thursday, July 26th.

According to Zacks, analysts expect that Corporate Office Properties Trust will report full-year earnings of $2.01 per share for the current financial year, with EPS estimates ranging from $1.99 to $2.03. For the next financial year, analysts anticipate that the firm will report earnings of $2.09 per share, with EPS estimates ranging from $2.04 to $2.15. Zacks Investment Research’s EPS 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 posted its quarterly earnings data on Thursday, April 26th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.32). The firm had revenue of $155.48 million during the quarter, compared to the consensus estimate of $155.72 million. Corporate Office Properties Trust had a return on equity of 4.49% and a net margin of 10.48%. Corporate Office Properties Trust’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.47 EPS.

A number of research firms have issued reports on OFC. ValuEngine upgraded Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a report on Saturday, May 26th. Wells Fargo & Co began coverage on Corporate Office Properties Trust in a report on Friday, April 20th. They issued a “market perform” rating and a $29.00 price objective for the company. Finally, Zacks Investment Research upgraded Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a report on Wednesday, April 4th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $30.50.

In other news, Director Robert L. Denton sold 2,508 shares of the stock in a transaction on Friday, May 18th. The stock was sold at an average price of $26.69, for a total value of $66,938.52. Following the sale, the director now directly owns 3,458 shares of the company’s stock, valued at $92,294.02. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.60% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brown Advisory Inc. purchased a new stake in shares of Corporate Office Properties Trust in the first quarter worth $252,000. Allianz Asset Management GmbH grew its stake in shares of Corporate Office Properties Trust by 54.7% in the first quarter. Allianz Asset Management GmbH now owns 309,314 shares of the real estate investment trust’s stock worth $7,990,000 after acquiring an additional 109,314 shares during the last quarter. Kempen Capital Management N.V. grew its stake in shares of Corporate Office Properties Trust by 133.4% in the first quarter. Kempen Capital Management N.V. now owns 367,524 shares of the real estate investment trust’s stock worth $9,493,000 after acquiring an additional 210,038 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Corporate Office Properties Trust by 2.0% in the first quarter. Principal Financial Group Inc. now owns 1,526,874 shares of the real estate investment trust’s stock worth $39,438,000 after acquiring an additional 29,988 shares during the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in shares of Corporate Office Properties Trust in the first quarter worth $254,000.

Corporate Office Properties Trust traded up $0.23, reaching $29.29, during trading on Friday, according to Marketbeat. The stock had a trading volume of 25,927 shares, compared to its average volume of 749,270. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 1.26. The company has a market cap of $2.97 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 6.97 and a beta of 0.67. Corporate Office Properties Trust has a one year low of $24.55 and a one year high of $35.65.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Friday, June 29th will be paid a $0.275 dividend. The ex-dividend date is Thursday, June 28th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.76%. Corporate Office Properties Trust’s dividend payout ratio is currently 54.19%.

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?).

Get a free copy of the Zacks research report on Corporate Office Properties Trust (OFC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Corporate Office Properties Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corporate Office Properties Trust and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply