$0.50 Earnings Per Share Expected for Corporate Office Properties Trust (NYSE:OFC) This Quarter

Brokerages expect Corporate Office Properties Trust (NYSE:OFC) to post $0.50 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Corporate Office Properties Trust’s earnings. The lowest EPS estimate is $0.50 and the highest is $0.51. Corporate Office Properties Trust also reported earnings of $0.50 per share in the same quarter last year. The business is scheduled to announce its next earnings results after the market closes on Thursday, February 6th.

On average, analysts expect that Corporate Office Properties Trust will report full-year earnings of $2.03 per share for the current fiscal year, with EPS estimates ranging from $2.03 to $2.04. For the next fiscal year, analysts expect that the company will report earnings of $2.09 per share, with EPS estimates ranging from $2.08 to $2.12. Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for Corporate Office Properties Trust.

Corporate Office Properties Trust (NYSE:OFC) last issued its earnings results on Monday, October 28th. The real estate investment trust reported $0.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.31). Corporate Office Properties Trust had a return on equity of 10.07% and a net margin of 27.11%. The company had revenue of $159.43 million for the quarter, compared to analyst estimates of $154.65 million. During the same quarter in the prior year, the firm earned $0.50 earnings per share. The company’s revenue for the quarter was up 16.0% on a year-over-year basis.

A number of research firms recently commented on OFC. Morgan Stanley cut Corporate Office Properties Trust to a “sell” rating and set a $27.00 price objective on the stock. in a report on Friday, December 13th. ValuEngine cut Corporate Office Properties Trust from a “hold” rating to a “sell” rating in a report on Friday, November 15th. Finally, JPMorgan Chase & Co. cut Corporate Office Properties Trust from an “overweight” rating to a “neutral” rating and set a $30.00 price objective on the stock. in a report on Tuesday, October 8th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. Corporate Office Properties Trust presently has a consensus rating of “Hold” and an average target price of $28.86.

OFC traded down $0.07 during trading hours on Monday, reaching $29.99. The company’s stock had a trading volume of 357,458 shares, compared to its average volume of 386,941. Corporate Office Properties Trust has a fifty-two week low of $23.24 and a fifty-two week high of $30.27. The stock has a market cap of $3.36 billion, a PE ratio of 20.13, a P/E/G ratio of 3.18 and a beta of 0.83. The business’s 50-day moving average is $29.13 and its 200-day moving average is $28.80. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.64 and a quick ratio of 1.64.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend was Monday, December 30th. Corporate Office Properties Trust’s dividend payout ratio is presently 54.73%.

In other news, CEO Stephen E. Budorick purchased 1,028 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were bought at an average cost of $29.39 per share, for a total transaction of $30,212.92. Also, Director Robert L. Denton sold 2,000 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $29.18, for a total value of $58,360.00. Following the transaction, the director now owns 267,568 shares in the company, valued at $7,807,634.24. The disclosure for this sale can be found here. Insiders purchased 5,776 shares of company stock worth $165,287 over the last quarter. 0.60% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the business. First Trust Advisors LP increased its position in Corporate Office Properties Trust by 68.1% in the 1st quarter. First Trust Advisors LP now owns 79,957 shares of the real estate investment trust’s stock valued at $2,183,000 after acquiring an additional 32,402 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Corporate Office Properties Trust by 7,717.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 15,322 shares of the real estate investment trust’s stock worth $404,000 after buying an additional 15,126 shares during the period. Bank of New York Mellon Corp raised its holdings in Corporate Office Properties Trust by 1.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,659,090 shares of the real estate investment trust’s stock worth $43,749,000 after buying an additional 27,751 shares during the period. Canada Pension Plan Investment Board raised its holdings in Corporate Office Properties Trust by 71.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 86,371 shares of the real estate investment trust’s stock worth $2,278,000 after buying an additional 36,016 shares during the period. Finally, Northern Trust Corp raised its holdings in Corporate Office Properties Trust by 4.4% during the 2nd quarter. Northern Trust Corp now owns 1,875,939 shares of the real estate investment trust’s stock worth $49,468,000 after buying an additional 79,055 shares during the period. Institutional investors own 93.72% of the company’s stock.

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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