Brokerages Expect Corporate Office Properties Trust (OFC) Will Post Quarterly Sales of $129.45 Million

Equities research analysts expect Corporate Office Properties Trust (NYSE:OFC) to post sales of $129.45 million for the current fiscal quarter, according to Zacks. Six analysts have made 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 indicates a negative year over year growth rate of 17.6%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Thursday, October 25th.

On average, analysts expect that Corporate Office Properties Trust will report full year sales of $518.02 million for the current year, with estimates ranging from $515.50 million to $520.71 million. For the next financial year, analysts expect that the firm will report sales of $549.84 million, with estimates ranging from $520.79 million to $567.90 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover 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, beating the Zacks’ consensus estimate of $0.50 by $0.01. The firm had revenue of $146.70 million for the quarter, compared to analyst estimates of $155.10 million. Corporate Office Properties Trust had a net margin of 10.81% and a return on equity of 4.52%. The company’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 business earned $0.49 earnings per share.

A number of research firms have commented on OFC. Jefferies Financial Group restated a “$28.83” rating on shares of Corporate Office Properties Trust in a research report on Wednesday, July 18th. Zacks Investment Research upgraded shares of Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a research report on Saturday, July 28th. Robert W. Baird reiterated a “hold” rating and set a $29.00 target price on shares of Corporate Office Properties Trust in a research report on Wednesday, August 8th. Bank of America upgraded shares of Corporate Office Properties Trust from a “neutral” rating to a “buy” rating and set a $34.00 target price on the stock in a research report on Tuesday, August 7th. Finally, Mizuho reiterated a “hold” rating and set a $31.00 target price on shares of Corporate Office Properties Trust in a research report on Monday, August 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. Corporate Office Properties Trust has a consensus rating of “Hold” and a consensus price target of $31.11.

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

Several hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC lifted its holdings in Corporate Office Properties Trust by 211.6% in the second quarter. SG Americas Securities LLC now owns 98,299 shares of the real estate investment trust’s stock valued at $2,850,000 after buying an additional 66,753 shares during the period. Russell Investments Group Ltd. lifted its holdings in Corporate Office Properties Trust by 5.3% in the second quarter. Russell Investments Group Ltd. now owns 429,432 shares of the real estate investment trust’s stock valued at $12,427,000 after buying an additional 21,636 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in Corporate Office Properties Trust by 6.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,255,678 shares of the real estate investment trust’s stock valued at $36,403,000 after buying an additional 78,280 shares during the period. BlackRock Inc. lifted its holdings in Corporate Office Properties Trust by 1.6% in the second quarter. BlackRock Inc. now owns 11,543,460 shares of the real estate investment trust’s stock valued at $334,647,000 after buying an additional 187,322 shares during the period. Finally, Becker Capital Management Inc. lifted its holdings in Corporate Office Properties Trust by 2.9% in the second quarter. Becker Capital Management Inc. now owns 389,055 shares of the real estate investment trust’s stock valued at $11,279,000 after buying an additional 11,045 shares during the period.

NYSE:OFC opened at $27.40 on Friday. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 4.25 and a beta of 0.63. Corporate Office Properties Trust has a 12 month low of $24.55 and a 12 month high of $33.81. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 1.24.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be given a dividend of $0.275 per share. The ex-dividend date is Thursday, September 27th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.01%. Corporate Office Properties Trust’s payout ratio is 54.19%.

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

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