KeyCorp Comments on Corporate Office Properties Trust’s FY2018 Earnings (OFC)

Corporate Office Properties Trust (NYSE:OFC) – Investment analysts at KeyCorp reduced their FY2018 earnings per share (EPS) estimates for shares of Corporate Office Properties Trust in a report released on Thursday, April 5th. KeyCorp analyst C. Mailman now forecasts that the real estate investment trust will earn $1.99 per share for the year, down from their previous forecast of $2.01. KeyCorp also issued estimates for Corporate Office Properties Trust’s FY2019 earnings at $2.13 EPS.

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A number of other research firms have also recently issued reports on OFC. ValuEngine cut shares of Corporate Office Properties Trust from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. TheStreet lowered shares of Corporate Office Properties Trust from a “b-” rating to a “c” rating in a research report on Friday, February 9th. Zacks Investment Research raised shares of Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, April 4th. Robert W. Baird set a $28.00 price target on shares of Corporate Office Properties Trust and gave the stock a “hold” rating in a research report on Friday, February 9th. Finally, Mizuho set a $26.00 price target on shares of Corporate Office Properties Trust and gave the stock a “hold” rating in a research report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $30.71.

NYSE OFC opened at $26.66 on Monday. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.27. The stock has a market cap of $2,713.39, a PE ratio of 13.13, a P/E/G ratio of 7.81 and a beta of 0.68. Corporate Office Properties Trust has a 52-week low of $24.55 and a 52-week high of $36.03.

Corporate Office Properties Trust (NYSE:OFC) last posted its earnings results on Thursday, February 8th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.43). The company had revenue of $164.57 million for the quarter, compared to analyst estimates of $143.44 million. Corporate Office Properties Trust had a return on equity of 4.82% and a net margin of 11.44%. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.51 EPS.

Several institutional investors have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund increased its stake in Corporate Office Properties Trust by 0.7% during the 3rd quarter. New York State Common Retirement Fund now owns 329,987 shares of the real estate investment trust’s stock valued at $10,833,000 after purchasing an additional 2,218 shares in the last quarter. Macquarie Group Ltd. increased its stake in Corporate Office Properties Trust by 21.6% during the 3rd quarter. Macquarie Group Ltd. now owns 34,300 shares of the real estate investment trust’s stock valued at $1,126,000 after purchasing an additional 6,102 shares in the last quarter. Legal & General Group Plc increased its stake in Corporate Office Properties Trust by 10.3% during the 3rd quarter. Legal & General Group Plc now owns 371,227 shares of the real estate investment trust’s stock valued at $12,188,000 after purchasing an additional 34,641 shares in the last quarter. Schroder Investment Management Group bought a new stake in Corporate Office Properties Trust during the 3rd quarter valued at $397,000. Finally, Schwab Charles Investment Management Inc. increased its stake in Corporate Office Properties Trust by 5.4% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,023,013 shares of the real estate investment trust’s stock valued at $33,586,000 after purchasing an additional 52,492 shares in the last quarter.

In other Corporate Office Properties Trust news, CEO Stephen E. Budorick bought 1,600 shares of the business’s stock in a transaction that occurred on Tuesday, March 13th. The shares were acquired at an average cost of $26.26 per share, for a total transaction of $42,016.00. Following the transaction, the chief executive officer now directly owns 103,242 shares in the company, valued at $2,711,134.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lisa G. Trimberger bought 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were acquired at an average price of $25.40 per share, for a total transaction of $76,200.00. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 5,400 shares of company stock worth $138,944. Insiders own 0.60% of the company’s stock.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Friday, March 30th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend is Wednesday, March 28th. Corporate Office Properties Trust’s dividend payout ratio is currently 54.19%.

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About Corporate Office Properties Trust

COPT is an office 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?).

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

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