Corporate Office Properties Trust (OFC) Expected to Post Quarterly Sales of $129.45 Million

Analysts expect that Corporate Office Properties Trust (NYSE:OFC) will announce sales of $129.45 million for the current quarter, Zacks reports. Six analysts have provided estimates for Corporate Office Properties Trust’s earnings, with estimates ranging from $127.57 million to $130.38 million. Corporate Office Properties Trust reported sales of $157.02 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 17.6%. The company is scheduled to report its next earnings report after the market closes on Thursday, October 25th.

According to Zacks, analysts expect that Corporate Office Properties Trust will report full-year sales of $518.02 million for the current fiscal year, with estimates ranging from $515.50 million to $520.71 million. For the next year, analysts anticipate that the firm will post sales of $549.84 million, with estimates ranging from $520.79 million to $567.90 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Corporate Office Properties Trust.

Corporate Office Properties Trust (NYSE:OFC) last released its quarterly earnings results on Thursday, July 26th. The real estate investment trust reported $0.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.01. The firm had revenue of $146.70 million during the quarter, compared to analyst estimates of $155.10 million. Corporate Office Properties Trust had a return on equity of 4.52% and a net margin of 10.81%. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.49 EPS.

OFC has been the subject of several recent research reports. ValuEngine raised Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a research report on Thursday, July 5th. Zacks Investment Research lowered Corporate Office Properties Trust from a “hold” rating to a “sell” rating in a report on Wednesday, July 11th. Jefferies Financial Group reaffirmed a “$28.83” rating on shares of Corporate Office Properties Trust in a report on Wednesday, July 18th. Stifel Nicolaus reissued a “sell” rating and set a $25.00 price target on shares of Corporate Office Properties Trust in a research note on Friday, July 27th. Finally, Mizuho reissued a “hold” rating and set a $31.00 price target on shares of Corporate Office Properties Trust in a research note on Monday, August 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. Corporate Office Properties Trust presently has a consensus rating of “Hold” and a consensus target price of $30.38.

Shares of OFC traded up $0.15 during trading hours on Friday, hitting $28.26. The company had a trading volume of 368,897 shares, compared to its average volume of 741,138. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 4.00 and a beta of 0.63. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 1.24. Corporate Office Properties Trust has a one year low of $24.55 and a one year high of $33.81.

The company also recently declared a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 28th were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 3.89%. The ex-dividend date of this dividend was Thursday, September 27th. Corporate Office Properties Trust’s dividend payout ratio (DPR) is 54.19%.

In other news, Director Robert L. Denton sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $29.97, for a total transaction of $89,910.00. Following the sale, the director now owns 3,458 shares of the company’s stock, valued at approximately $103,636.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David M. Jacobstein sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $30.64, for a total value of $76,600.00. Following the sale, the director now directly owns 9,591 shares in the company, valued at approximately $293,868.24. The disclosure for this sale can be found here. 0.60% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the company. FMR LLC raised its stake in Corporate Office Properties Trust by 37.5% during the second quarter. FMR LLC now owns 12,387,646 shares of the real estate investment trust’s stock worth $359,119,000 after acquiring an additional 3,378,017 shares during the period. BlackRock Inc. raised its stake in Corporate Office Properties Trust by 1.6% during the second quarter. BlackRock Inc. now owns 11,543,460 shares of the real estate investment trust’s stock worth $334,647,000 after acquiring an additional 187,322 shares during the period. Frontier Capital Management Co. LLC raised its stake in Corporate Office Properties Trust by 41.4% during the second quarter. Frontier Capital Management Co. LLC now owns 2,687,662 shares of the real estate investment trust’s stock worth $77,915,000 after acquiring an additional 786,333 shares during the period. Northern Trust Corp raised its stake in Corporate Office Properties Trust by 7.4% during the second quarter. Northern Trust Corp now owns 1,816,875 shares of the real estate investment trust’s stock worth $52,671,000 after acquiring an additional 124,452 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Corporate Office Properties Trust by 1.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,605,421 shares of the real estate investment trust’s stock worth $46,541,000 after acquiring an additional 18,339 shares during the period.

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”).

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

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