Brokerages Anticipate Corporate Office Properties Trust (OFC) Will Announce Quarterly Sales of $127.35 Million

Wall Street brokerages expect Corporate Office Properties Trust (NYSE:OFC) to post sales of $127.35 million for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Corporate Office Properties Trust’s earnings. The lowest sales estimate is $124.58 million and the highest is $130.57 million. Corporate Office Properties Trust reported sales of $141.99 million during the same quarter last year, which indicates a negative year-over-year growth rate of 10.3%. The firm is expected to report its next quarterly earnings results on Thursday, February 8th.

According to Zacks, analysts expect that Corporate Office Properties Trust will report full-year sales of $127.35 million for the current year, with estimates ranging from $505.14 million to $512.87 million. For the next year, analysts anticipate that the company will post sales of $516.10 million per share, with estimates ranging from $505.71 million to $524.70 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Corporate Office Properties Trust.

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

Several research firms have commented on OFC. Zacks Investment Research raised shares of Corporate Office Properties Trust from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research note on Wednesday, October 18th. SunTrust Banks reaffirmed a “hold” rating and set a $34.00 price objective on shares of Corporate Office Properties Trust in a research note on Friday, October 27th. Jefferies Group raised shares of Corporate Office Properties Trust from a “hold” rating to a “buy” rating and boosted their target price for the company from $36.00 to $39.00 in a research note on Monday, September 25th. TheStreet raised shares of Corporate Office Properties Trust from a “c” rating to a “b-” rating in a research note on Thursday, October 26th. Finally, Evercore ISI raised shares of Corporate Office Properties Trust from an “in-line” rating to an “outperform” rating in a research note on Monday, December 4th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Corporate Office Properties Trust currently has a consensus rating of “Hold” and a consensus target price of $33.57.

Corporate Office Properties Trust (NYSE:OFC) traded up $0.14 during midday trading on Friday, reaching $27.80. 444,200 shares of the company’s stock traded hands, compared to its average volume of 572,675. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.53 and a quick ratio of 1.53. The stock has a market capitalization of $3,020.00, a price-to-earnings ratio of 40.29 and a beta of 0.81. Corporate Office Properties Trust has a 52 week low of $27.47 and a 52 week high of $36.03.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date of this dividend is Thursday, December 28th. Corporate Office Properties Trust’s dividend payout ratio is currently 159.42%.

In other news, Director Lisa G. Trimberger acquired 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The stock was purchased at an average cost of $30.39 per share, for a total transaction of $91,170.00. Following the completion of the acquisition, the director now directly owns 1,464 shares of the company’s stock, valued at approximately $44,490.96. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul R. Adkins acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The stock was purchased at an average price of $29.06 per share, with a total value of $290,600.00. Following the completion of the acquisition, the insider now directly owns 29,465 shares of the company’s stock, valued at $856,252.90. The disclosure for this purchase can be found here. 0.60% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc raised its holdings in shares of Corporate Office Properties Trust by 10.3% in the third quarter. Legal & General Group Plc now owns 371,227 shares of the real estate investment trust’s stock valued at $12,188,000 after acquiring an additional 34,641 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Corporate Office Properties Trust by 13.8% in the second quarter. Wells Fargo & Company MN now owns 2,259,191 shares of the real estate investment trust’s stock valued at $79,140,000 after acquiring an additional 273,738 shares in the last quarter. Stevens Capital Management LP raised its holdings in shares of Corporate Office Properties Trust by 8.5% in the second quarter. Stevens Capital Management LP now owns 63,571 shares of the real estate investment trust’s stock valued at $2,227,000 after acquiring an additional 5,006 shares in the last quarter. TIAA CREF Investment Management LLC raised its holdings in shares of Corporate Office Properties Trust by 17.7% in the second quarter. TIAA CREF Investment Management LLC now owns 208,622 shares of the real estate investment trust’s stock valued at $7,308,000 after acquiring an additional 31,376 shares in the last quarter. Finally, LaSalle Street Capital Management LLC raised its holdings in shares of Corporate Office Properties Trust by 20.9% in the third quarter. LaSalle Street Capital Management LLC now owns 29,170 shares of the real estate investment trust’s stock valued at $958,000 after acquiring an additional 5,045 shares in the last quarter.

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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.

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