Corporate Office Properties Trust (OFC) Expected to Post Quarterly Sales of $127.35 Million

Analysts expect Corporate Office Properties Trust (NYSE:OFC) to report $127.35 million in sales for the current quarter, Zacks reports. Six analysts have provided estimates for Corporate Office Properties Trust’s earnings, with the lowest sales estimate coming in at $124.58 million and the highest estimate coming in at $130.57 million. Corporate Office Properties Trust posted sales of $141.99 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 10.3%. The firm is expected to report its next earnings results on Thursday, February 8th.

According to Zacks, analysts expect that Corporate Office Properties Trust will report full year sales of $127.35 million for the current fiscal year, with estimates ranging from $505.14 million to $512.87 million. For the next year, analysts expect that the business will post sales of $517.97 million per share, with estimates ranging from $505.71 million to $534.26 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Corporate Office Properties Trust.

Corporate Office Properties Trust (NYSE:OFC) last released its quarterly earnings results on Thursday, October 26th. The real estate investment trust reported $0.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.01. The business had revenue of $157.00 million during the quarter, compared to analyst estimates of $142.74 million. Corporate Office Properties Trust had a net margin of 14.38% and a return on equity of 5.89%. The company’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.51 earnings per share.

Several analysts have commented on OFC shares. TheStreet raised shares of Corporate Office Properties Trust from a “c” rating to a “b-” rating in a research report on Thursday, October 26th. ValuEngine raised shares of Corporate Office Properties Trust from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Jefferies Group upgraded shares of Corporate Office Properties Trust from a “hold” rating to a “buy” rating and upped their price objective for the company from $36.00 to $39.00 in a report on Monday, September 25th. Zacks Investment Research upgraded shares of Corporate Office Properties Trust from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a report on Wednesday, October 18th. Finally, KeyCorp restated a “hold” rating on shares of Corporate Office Properties Trust in a report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $33.57.

Corporate Office Properties Trust (NYSE:OFC) traded up $0.12 during mid-day trading on Friday, hitting $30.22. 446,066 shares of the company’s stock traded hands, compared to its average volume of 980,352. The stock has a market capitalization of $2,998.23, a price-to-earnings ratio of 15.05 and a beta of 0.81. Corporate Office Properties Trust has a 1-year low of $29.03 and a 1-year high of $36.03. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 1.34.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be issued a $0.275 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.10 annualized dividend and a yield of 3.64%. Corporate Office Properties Trust’s dividend payout ratio (DPR) is presently 159.42%.

In other Corporate Office Properties Trust news, Director Lisa G. Trimberger purchased 3,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were bought at an average price of $30.39 per share, for a total transaction of $91,170.00. Following the acquisition, the director now owns 1,464 shares in the company, valued at $44,490.96. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.60% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Corporate Office Properties Trust by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 15,482,529 shares of the real estate investment trust’s stock worth $542,353,000 after purchasing an additional 184,535 shares during the period. BlackRock Inc. grew its stake in shares of Corporate Office Properties Trust by 4.4% during the 2nd quarter. BlackRock Inc. now owns 10,639,831 shares of the real estate investment trust’s stock worth $372,714,000 after purchasing an additional 447,228 shares during the period. Cohen & Steers Inc. grew its stake in shares of Corporate Office Properties Trust by 8.8% during the 3rd quarter. Cohen & Steers Inc. now owns 10,607,729 shares of the real estate investment trust’s stock worth $348,252,000 after purchasing an additional 860,162 shares during the period. FMR LLC grew its stake in shares of Corporate Office Properties Trust by 22.0% during the 2nd quarter. FMR LLC now owns 6,980,510 shares of the real estate investment trust’s stock worth $244,526,000 after purchasing an additional 1,259,741 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Corporate Office Properties Trust by 92.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,922,539 shares of the real estate investment trust’s stock worth $95,948,000 after purchasing an additional 1,403,775 shares during the period.

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About Corporate Office Properties Trust

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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