Analysts Anticipate Corporate Office Properties Trust (OFC) Will Post Quarterly Sales of $136.15 Million

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Equities research analysts forecast that Corporate Office Properties Trust (NYSE:OFC) will post sales of $136.15 million for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Corporate Office Properties Trust’s earnings. The lowest sales estimate is $132.10 million and the highest is $141.22 million. Corporate Office Properties Trust posted sales of $155.48 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 12.4%. The company is expected to issue its next quarterly earnings results after the market closes on Tuesday, April 30th.

On average, analysts expect that Corporate Office Properties Trust will report full-year sales of $554.43 million for the current year, with estimates ranging from $533.94 million to $582.31 million. For the next fiscal year, analysts anticipate that the business will report sales of $578.94 million, with estimates ranging from $546.00 million to $605.09 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that that provide coverage for Corporate Office Properties Trust.

Corporate Office Properties Trust (NYSE:OFC) last released its quarterly earnings data on Thursday, February 7th. The real estate investment trust reported $0.50 earnings per share for the quarter, hitting the consensus estimate of $0.50. Corporate Office Properties Trust had a net margin of 12.49% and a return on equity of 4.64%. The business had revenue of $138.48 million for the quarter, compared to analyst estimates of $152.94 million. During the same quarter last year, the firm earned $0.53 EPS. Corporate Office Properties Trust’s quarterly revenue was down 15.9% compared to the same quarter last year.

Several analysts have commented on OFC shares. Stifel Nicolaus upgraded shares of Corporate Office Properties Trust from a “sell” rating to a “hold” rating and set a $22.00 target price on the stock in a report on Thursday, January 3rd. ValuEngine upgraded shares of Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a report on Friday, January 11th. Wells Fargo & Co set a $25.00 target price on shares of Corporate Office Properties Trust and gave the stock a “market perform” rating in a report on Wednesday, January 16th. They noted that the move was a valuation call. Robert W. Baird upgraded shares of Corporate Office Properties Trust from a “neutral” rating to an “outperform” rating in a report on Tuesday, January 8th. Finally, Zacks Investment Research downgraded shares of Corporate Office Properties Trust from a “hold” rating to a “sell” rating in a report on Saturday, February 16th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. Corporate Office Properties Trust currently has a consensus rating of “Hold” and an average target price of $26.17.

In other Corporate Office Properties Trust news, 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 transaction of $38,475.00. Following the sale, the director now directly owns 280,000 shares in the company, valued at approximately $7,182,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert L. Denton sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $26.79, for a total transaction of $107,160.00. Following the sale, the director now owns 276,000 shares in the company, valued at $7,394,040. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of OFC. Dimensional Fund Advisors LP raised its holdings in shares of Corporate Office Properties Trust by 1.6% in the third quarter. Dimensional Fund Advisors LP now owns 1,631,706 shares of the real estate investment trust’s stock valued at $48,670,000 after purchasing an additional 26,285 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of Corporate Office Properties Trust by 10.6% in the third quarter. Hsbc Holdings PLC now owns 21,432 shares of the real estate investment trust’s stock valued at $639,000 after purchasing an additional 2,058 shares during the last quarter. Riverhead Capital Management LLC raised its holdings in shares of Corporate Office Properties Trust by 29.3% in the third quarter. Riverhead Capital Management LLC now owns 11,927 shares of the real estate investment trust’s stock valued at $356,000 after purchasing an additional 2,700 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Corporate Office Properties Trust by 150.6% in the third quarter. Renaissance Technologies LLC now owns 384,907 shares of the real estate investment trust’s stock valued at $11,482,000 after purchasing an additional 231,307 shares during the last quarter. Finally, Pacer Advisors Inc. raised its holdings in shares of Corporate Office Properties Trust by 19.1% in the third quarter. Pacer Advisors Inc. now owns 37,379 shares of the real estate investment trust’s stock valued at $1,115,000 after purchasing an additional 5,982 shares during the last quarter. Institutional investors own 96.13% of the company’s stock.

Corporate Office Properties Trust stock traded up $0.17 during midday trading on Wednesday, hitting $27.67. 472,159 shares of the stock were exchanged, compared to its average volume of 705,724. Corporate Office Properties Trust has a 52 week low of $20.03 and a 52 week high of $31.01. The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 2.80 and a beta of 1.04. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.95 and a quick ratio of 1.95.

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued a dividend of $0.275 per share. The ex-dividend date was Thursday, March 28th. This represents a $1.10 annualized dividend and a yield of 3.98%. Corporate Office Properties Trust’s dividend payout ratio (DPR) is currently 54.73%.

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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