Corporate Office Properties Trust (NYSE:OFC) – Stock analysts at SunTrust Banks upped their Q2 2019 earnings estimates for Corporate Office Properties Trust in a report issued on Tuesday, February 19th. SunTrust Banks analyst M. Lewis now anticipates that the real estate investment trust will post earnings per share of $0.51 for the quarter, up from their prior forecast of $0.50. SunTrust Banks also issued estimates for Corporate Office Properties Trust’s Q3 2019 earnings at $0.51 EPS, FY2019 earnings at $2.02 EPS, FY2020 earnings at $2.09 EPS and FY2021 earnings at $2.18 EPS.
Corporate Office Properties Trust (NYSE:OFC) last announced its quarterly earnings results on Thursday, February 7th. The real estate investment trust reported $0.50 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.50. Corporate Office Properties Trust had a return on equity of 4.64% and a net margin of 12.49%. The company had revenue of $138.48 million during the quarter, compared to analyst estimates of $152.94 million. During the same period in the prior year, the firm posted $0.53 earnings per share. The firm’s revenue was down 15.9% on a year-over-year basis.
Other equities research analysts also recently issued research reports about the company. Robert W. Baird raised Corporate Office Properties Trust from a “neutral” rating to an “outperform” rating in a research report on Tuesday, January 8th. ValuEngine downgraded Corporate Office Properties Trust from a “hold” rating to a “sell” rating in a research report on Friday, November 16th. Wells Fargo & Co set a $25.00 target price on Corporate Office Properties Trust and gave the stock a “market perform” rating in a research report on Wednesday, January 16th. They noted that the move was a valuation call. Bank of America downgraded Corporate Office Properties Trust from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $31.00 to $27.00 in a research report on Friday, November 30th. Finally, Zacks Investment Research downgraded Corporate Office Properties Trust from a “hold” rating to a “sell” rating in a report on Saturday, February 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $27.00.
Shares of NYSE OFC opened at $26.15 on Thursday. Corporate Office Properties Trust has a 1-year low of $20.03 and a 1-year high of $31.01. The company has a quick ratio of 1.92, a current ratio of 1.95 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $2.83 billion, a PE ratio of 13.01, a P/E/G ratio of 2.84 and a beta of 1.04.
In other Corporate Office Properties Trust news, CEO Stephen E. Budorick bought 2,070 shares of the stock in a transaction that occurred on Thursday, December 6th. The shares were purchased at an average cost of $24.14 per share, for a total transaction of $49,969.80. Following the transaction, the chief executive officer now directly owns 112,598 shares in the company, valued at $2,718,115.72. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert L. Denton sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 13th. The shares were sold at an average price of $25.65, for a total value of $38,475.00. Following the completion of the sale, the director now owns 280,000 shares in the company, valued at $7,182,000. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 13,220 shares of company stock worth $295,175. 0.60% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC boosted its stake in shares of Corporate Office Properties Trust by 142.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,700 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 1,000 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Corporate Office Properties Trust by 2,069.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 864,333 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 824,484 shares during the period. Fort L.P. boosted its position in shares of Corporate Office Properties Trust by 420.6% in the fourth quarter. Fort L.P. now owns 2,150 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 1,737 shares during the period. Quantamental Technologies LLC acquired a new stake in shares of Corporate Office Properties Trust in the fourth quarter worth $91,000. Finally, Private Advisor Group LLC acquired a new stake in shares of Corporate Office Properties Trust in the third quarter worth $210,000. Hedge funds and other institutional investors own 97.45% of the company’s stock.
Corporate Office Properties Trust Company Profile
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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