Brokerages Expect Corporate Office Properties Trust (OFC) to Announce $0.51 Earnings Per Share

Wall Street brokerages forecast that Corporate Office Properties Trust (NYSE:OFC) will announce earnings per share (EPS) of $0.51 for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Corporate Office Properties Trust’s earnings, with the lowest EPS estimate coming in at $0.50 and the highest estimate coming in at $0.52. Corporate Office Properties Trust reported earnings of $0.53 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 3.8%. The business is scheduled to report its next quarterly earnings results on Thursday, February 14th.

On average, analysts expect that Corporate Office Properties Trust will report full-year earnings of $2.01 per share for the current fiscal year, with EPS estimates ranging from $2.00 to $2.02. For the next fiscal year, analysts anticipate that the business will post earnings of $2.07 per share, with EPS estimates ranging from $2.01 to $2.12. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for Corporate Office Properties Trust.

Corporate Office Properties Trust (NYSE:OFC) last issued its quarterly earnings results on Thursday, October 25th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. Corporate Office Properties Trust had a return on equity of 4.30% and a net margin of 10.78%. The firm had revenue of $137.41 million during the quarter, compared to analyst estimates of $129.45 million.

OFC has been the subject of several research analyst reports. Mizuho reaffirmed a “hold” rating and set a $31.00 price target on shares of Corporate Office Properties Trust in a research note on Monday, August 6th. Bank of America raised Corporate Office Properties Trust from a “neutral” rating to a “buy” rating and set a $34.00 price target for the company in a research note on Tuesday, August 7th. Robert W. Baird reissued a “hold” rating and issued a $29.00 target price on shares of Corporate Office Properties Trust in a research note on Wednesday, August 8th. Wells Fargo & Co reissued a “hold” rating on shares of Corporate Office Properties Trust in a research note on Wednesday, August 15th. Finally, ValuEngine lowered Corporate Office Properties Trust from a “hold” rating to a “sell” rating in a research note on Friday, November 16th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $29.50.

In related news, CEO Stephen E. Budorick bought 4,023 shares of the stock in a transaction dated Monday, November 19th. The stock was bought at an average price of $24.90 per share, with a total value of $100,172.70. Following the purchase, the chief executive officer now owns 110,528 shares in the company, valued at approximately $2,752,147.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders bought 5,160 shares of company stock valued at $131,367. 0.60% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OFC. Qube Research & Technologies Ltd purchased a new position in Corporate Office Properties Trust during the 2nd quarter valued at about $123,000. Private Advisor Group LLC purchased a new position in Corporate Office Properties Trust during the 3rd quarter valued at about $210,000. Nissay Asset Management Corp Japan ADV purchased a new position in Corporate Office Properties Trust during the 3rd quarter valued at about $211,000. NN Investment Partners Holdings N.V. purchased a new position in Corporate Office Properties Trust during the 3rd quarter valued at about $234,000. Finally, Quantbot Technologies LP purchased a new position in Corporate Office Properties Trust during the 3rd quarter valued at about $243,000. 96.76% of the stock is owned by institutional investors.

OFC stock traded up $0.31 during mid-day trading on Wednesday, hitting $24.78. 951,300 shares of the stock were exchanged, compared to its average volume of 820,461. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 1.12. Corporate Office Properties Trust has a 12 month low of $24.14 and a 12 month high of $31.01. The firm has a market cap of $2.66 billion, a P/E ratio of 12.21, a price-to-earnings-growth ratio of 2.71 and a beta of 0.79.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date is Friday, December 28th. Corporate Office Properties Trust’s dividend payout ratio (DPR) is presently 54.19%.

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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