FY2019 EPS Estimates for Corporate Office Properties Trust Decreased by Jefferies Group (OFC)

Corporate Office Properties Trust (NYSE:OFC) – Equities researchers at Jefferies Group lowered their FY2019 EPS estimates for Corporate Office Properties Trust in a report issued on Thursday. Jefferies Group analyst J. Petersen now expects that the real estate investment trust will post earnings of $2.24 per share for the year, down from their prior estimate of $2.33. Jefferies Group currently has a “Buy” rating and a $38.00 price objective on the stock.

Corporate Office Properties Trust (NYSE:OFC) last posted its quarterly earnings results on Thursday, October 26th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. Corporate Office Properties Trust had a net margin of 14.38% and a return on equity of 5.89%. The company had revenue of $157.00 million during the quarter, compared to analyst estimates of $142.74 million. During the same period last year, the firm posted $0.51 EPS. Corporate Office Properties Trust’s revenue for the quarter was up 10.5% compared to the same quarter last year.

Several other research firms have also weighed in on OFC. ValuEngine raised shares of Corporate Office Properties Trust from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Zacks Investment Research raised shares of Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a report on Thursday, September 7th. KeyCorp reissued a “hold” rating on shares of Corporate Office Properties Trust in a report on Friday, August 25th. TheStreet raised shares of Corporate Office Properties Trust from a “c” rating to a “b-” rating in a report on Thursday, October 26th. Finally, Mizuho reissued a “hold” rating on shares of Corporate Office Properties Trust in a report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. Corporate Office Properties Trust presently has a consensus rating of “Hold” and an average target price of $33.57.

Corporate Office Properties Trust (NYSE:OFC) traded up $0.10 during trading hours on Friday, hitting $29.11. 842,186 shares of the stock traded hands, compared to its average volume of 1,091,921. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.53 and a current ratio of 1.53. The stock has a market cap of $2,889.66, a price-to-earnings ratio of 14.51 and a beta of 0.81. Corporate Office Properties Trust has a 52-week low of $28.88 and a 52-week high of $36.03.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Corporate Office Properties Trust by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 15,482,529 shares of the real estate investment trust’s stock valued at $542,353,000 after buying an additional 184,535 shares during the period. BlackRock Inc. increased its stake in Corporate Office Properties Trust by 4.4% during the second quarter. BlackRock Inc. now owns 10,639,831 shares of the real estate investment trust’s stock worth $372,714,000 after purchasing an additional 447,228 shares during the period. Cohen & Steers Inc. increased its stake in Corporate Office Properties Trust by 8.8% during the third quarter. Cohen & Steers Inc. now owns 10,607,729 shares of the real estate investment trust’s stock worth $348,252,000 after purchasing an additional 860,162 shares during the period. FMR LLC increased its stake in Corporate Office Properties Trust by 22.0% during the second quarter. FMR LLC now owns 6,980,510 shares of the real estate investment trust’s stock worth $244,526,000 after purchasing an additional 1,259,741 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Corporate Office Properties Trust by 92.4% during the third quarter. Bank of New York Mellon Corp now owns 2,922,539 shares of the real estate investment trust’s stock worth $95,948,000 after purchasing an additional 1,403,775 shares during the period.

In other news, insider Paul R. Adkins purchased 10,000 shares of the stock in a transaction dated Thursday, December 21st. The shares were purchased at an average price of $29.06 per share, with a total value of $290,600.00. Following the transaction, the insider now owns 29,465 shares in the company, valued at approximately $856,252.90. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Lisa G. Trimberger purchased 3,000 shares of the stock in a transaction dated Thursday, November 30th. The shares were purchased at an average cost of $30.39 per share, for a total transaction of $91,170.00. Following the transaction, the director now owns 1,464 shares in the company, valued at approximately $44,490.96. The disclosure for this purchase can be found here. Insiders own 0.60% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.10 annualized dividend and a dividend yield of 3.78%. Corporate Office Properties Trust’s payout ratio is 159.42%.

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About Corporate Office Properties Trust

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.

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

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