SunTrust Banks Comments on Corporate Office Properties Trust’s Q4 2017 Earnings (OFC)

Corporate Office Properties Trust (NYSE:OFC) – Equities research analysts at SunTrust Banks reduced their Q4 2017 earnings per share estimates for shares of Corporate Office Properties Trust in a report issued on Tuesday, Zacks Investment Research reports. SunTrust Banks analyst M. Lewis now forecasts that the real estate investment trust will post earnings of $0.54 per share for the quarter, down from their previous estimate of $0.56. SunTrust Banks currently has a “Hold” rating and a $32.00 price target on the stock. SunTrust Banks also issued estimates for Corporate Office Properties Trust’s FY2021 earnings at $2.48 EPS.

Corporate Office Properties Trust (NYSE:OFC) last released its quarterly earnings data on Thursday, February 9th. The real estate investment trust reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.29. Corporate Office Properties Trust had a net margin of 1.99% and a return on equity of 0.85%. The business had revenue of $141.99 million for the quarter, compared to analysts’ expectations of $128.02 million. During the same quarter last year, the company earned $0.52 EPS. The company’s revenue for the quarter was down .9% compared to the same quarter last year.

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

Other analysts have also recently issued reports about the company. Mizuho upped their price target on Corporate Office Properties Trust from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, February 13th. Zacks Investment Research raised Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, March 22nd. Jefferies Group LLC upped their price target on Corporate Office Properties Trust from $32.00 to $33.00 and gave the company a “hold” rating in a research note on Tuesday, February 21st. Stifel Nicolaus reaffirmed a “hold” rating and issued a $30.00 price target (up from $28.50) on shares of Corporate Office Properties Trust in a research note on Friday, December 23rd. Finally, Raymond James Financial, Inc. cut Corporate Office Properties Trust from an “outperform” rating to a “market perform” rating in a research note on Monday, January 9th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $32.50.

Corporate Office Properties Trust (NYSE:OFC) traded down 0.44% during trading on Thursday, reaching $33.58. 840,743 shares of the company’s stock traded hands. The company’s market capitalization is $3.30 billion. Corporate Office Properties Trust has a 12 month low of $24.92 and a 12 month high of $34.56. The firm’s 50 day moving average is $33.52 and its 200-day moving average is $30.80.

Institutional investors have recently added to or reduced their stakes in the company. 1st Global Advisors Inc. increased its position in Corporate Office Properties Trust by 0.3% in the third quarter. 1st Global Advisors Inc. now owns 11,746 shares of the real estate investment trust’s stock worth $333,000 after buying an additional 31 shares during the period. State Treasurer State of Michigan increased its position in Corporate Office Properties Trust by 0.3% in the third quarter. State Treasurer State of Michigan now owns 38,100 shares of the real estate investment trust’s stock worth $1,080,000 after buying an additional 100 shares during the period. Capstone Asset Management Co. increased its position in Corporate Office Properties Trust by 3.2% in the first quarter. Capstone Asset Management Co. now owns 8,365 shares of the real estate investment trust’s stock worth $277,000 after buying an additional 260 shares during the period. LS Investment Advisors LLC increased its position in Corporate Office Properties Trust by 5.7% in the third quarter. LS Investment Advisors LLC now owns 6,009 shares of the real estate investment trust’s stock worth $170,000 after buying an additional 324 shares during the period. Finally, Emerald Mutual Fund Advisers Trust increased its position in Corporate Office Properties Trust by 2.0% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 18,646 shares of the real estate investment trust’s stock worth $529,000 after buying an additional 364 shares during the period. 97.98% of the stock is owned by hedge funds and other institutional investors.

In related news, CAO Greg J. Thor sold 3,555 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $34.02, for a total value of $120,941.10. Following the completion of the transaction, the chief accounting officer now directly owns 14,853 shares in the company, valued at approximately $505,299.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by insiders.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 17th. Investors of record on Friday, March 31st were given a $0.275 dividend. The ex-dividend date was Wednesday, March 29th. This represents a $1.10 annualized dividend and a dividend yield of 3.28%. Corporate Office Properties Trust’s dividend payout ratio is presently -2,749.31%.

Corporate Office Properties Trust Company Profile

Corporate Office Properties Trust is a fully-integrated and self-managed real estate investment trust (REIT). The Company owns, manages, leases, develops and acquires office and data center properties. The Company’s segments are Defense/IT Locations; Regional Office; operating wholesale data center, and other.

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