Corporate Office Properties Trust (NYSE:OFC) updated its third quarter earnings guidance on Thursday. The company provided EPS guidance of $0.51-0.53 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.53. Corporate Office Properties Trust also updated its FY17 guidance to $2.02-2.06 EPS.
A number of research firms have weighed in on OFC. Zacks Investment Research lowered shares of Corporate Office Properties Trust from a hold rating to a sell rating in a research report on Wednesday, July 12th. BidaskClub lowered shares of Corporate Office Properties Trust from a buy rating to a hold rating in a research report on Tuesday, July 11th. ValuEngine raised shares of Corporate Office Properties Trust from a hold rating to a buy rating in a research report on Friday, June 2nd. Jefferies Group LLC reissued a neutral rating and set a $36.00 target price (up previously from $32.00) on shares of Corporate Office Properties Trust in a research report on Tuesday, May 30th. Finally, Stifel Nicolaus reissued a hold rating and set a $33.00 target price on shares of Corporate Office Properties Trust in a research report on Friday, July 14th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $33.25.
Corporate Office Properties Trust (OFC) traded down 1.20% on Friday, reaching $33.69. 1,141,284 shares of the company traded hands. The firm has a market cap of $3.34 billion, a P/E ratio of 46.21 and a beta of 0.84. The stock has a 50-day moving average price of $34.96 and a 200-day moving average price of $33.59. Corporate Office Properties Trust has a 52-week low of $24.92 and a 52-week high of $36.03.
Corporate Office Properties Trust (NYSE:OFC) last issued its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.01. Corporate Office Properties Trust had a net margin of 15.86% and a return on equity of 6.59%. The business had revenue of $151.44 million during the quarter, compared to analysts’ expectations of $138.04 million. During the same quarter in the previous year, the company earned $0.52 EPS. The business’s revenue was up 3.8% on a year-over-year basis. Analysts anticipate that Corporate Office Properties Trust will post $0.81 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.27%. The ex-dividend date of this dividend was Wednesday, June 28th. Corporate Office Properties Trust’s dividend payout ratio (DPR) is 150.68%.
In other Corporate Office Properties Trust news, Director Robert L. Denton sold 3,118 shares of Corporate Office Properties Trust stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $32.73, for a total value of $102,052.14. Following the completion of the sale, the director now owns 2,508 shares in the company, valued at approximately $82,086.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert L. Denton sold 2,000 shares of Corporate Office Properties Trust stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $34.51, for a total transaction of $69,020.00. Following the completion of the sale, the director now owns 294,500 shares of the company’s stock, valued at approximately $10,163,195. The disclosure for this sale can be found here. Insiders sold a total of 11,873 shares of company stock valued at $404,400 in the last quarter. Corporate insiders own 0.60% of the company’s stock.
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Corporate Office Properties Trust Company Profile
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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