Zacks: Brokerages Anticipate Corporate Office Properties Trust (OFC) to Announce $0.52 Earnings Per Share

Wall Street brokerages expect that Corporate Office Properties Trust (NYSE:OFC) will announce earnings of $0.52 per share for the current quarter, according to Zacks. Seven analysts have issued estimates for Corporate Office Properties Trust’s earnings, with the highest EPS estimate coming in at $0.53 and the lowest estimate coming in at $0.51. Corporate Office Properties Trust reported earnings per share of $0.51 during the same quarter last year, which indicates a positive year-over-year growth rate of 2%. The company is scheduled to issue its next quarterly earnings report on Thursday, October 26th.

According to Zacks, analysts expect that Corporate Office Properties Trust will report full-year earnings of $2.04 per share for the current fiscal year, with EPS estimates ranging from $2.02 to $2.05. For the next financial year, analysts expect that the business will report earnings of $2.15 per share, with EPS estimates ranging from $2.12 to $2.17. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Corporate Office Properties Trust.

Corporate Office Properties Trust (NYSE:OFC) last released its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.01. The firm had revenue of $151.44 million during the quarter, compared to the consensus estimate of $138.04 million. Corporate Office Properties Trust had a net margin of 15.86% and a return on equity of 6.55%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 earnings per share.

A number of brokerages have recently issued reports on OFC. BidaskClub raised shares of Corporate Office Properties Trust from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $36.00 price objective on shares of Corporate Office Properties Trust in a research note on Tuesday, July 4th. Mizuho cut shares of Corporate Office Properties Trust from a “buy” rating to a “neutral” rating and set a $38.00 price objective for the company. in a research note on Monday, July 10th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $33.00 price objective on shares of Corporate Office Properties Trust in a research note on Friday, July 14th. Finally, ValuEngine raised shares of Corporate Office Properties Trust from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Four analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $32.75.

In other Corporate Office Properties Trust news, Director Robert L. Denton sold 2,000 shares of the company’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $34.51, for a total value of $69,020.00. Following the completion of the transaction, the director now directly owns 294,500 shares in the company, valued at approximately $10,163,195. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven D. Kesler sold 3,637 shares of the company’s stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $35.40, for a total transaction of $128,749.80. The disclosure for this sale can be found here. Insiders have sold a total of 11,873 shares of company stock valued at $404,400 over the last quarter. 0.60% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. World Asset Management Inc bought a new position in shares of Corporate Office Properties Trust during the first quarter valued at approximately $201,000. Bailard Inc. bought a new position in shares of Corporate Office Properties Trust during the first quarter valued at approximately $202,000. LS Investment Advisors LLC raised its position in shares of Corporate Office Properties Trust by 1.5% in the first quarter. LS Investment Advisors LLC now owns 6,552 shares of the real estate investment trust’s stock valued at $217,000 after buying an additional 97 shares during the period. Campbell & CO Investment Adviser LLC bought a new position in shares of Corporate Office Properties Trust during the second quarter valued at approximately $262,000. Finally, Capstone Asset Management Co. raised its position in shares of Corporate Office Properties Trust by 3.2% in the first quarter. Capstone Asset Management Co. now owns 8,365 shares of the real estate investment trust’s stock valued at $277,000 after buying an additional 260 shares during the period.

Corporate Office Properties Trust (OFC) traded down 1.42% during trading on Friday, hitting $32.59. 279,758 shares of the stock traded hands. The company has a 50-day moving average price of $34.84 and a 200-day moving average price of $33.66. The stock has a market cap of $3.23 billion, a PE ratio of 44.71 and a beta of 0.83. Corporate Office Properties Trust has a 12 month low of $24.92 and a 12 month high of $36.03.

The company also recently declared a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $1.10 dividend on an annualized basis and a yield of 3.33%. Corporate Office Properties Trust’s dividend payout ratio is currently 150.68%.

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

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