FY2019 EPS Estimates for Corporate Office Properties Trust (OFC) Reduced by Analyst

Corporate Office Properties Trust (NYSE:OFC) – Analysts at KeyCorp lowered their FY2019 earnings estimates for Corporate Office Properties Trust in a report released on Sunday, December 2nd. KeyCorp analyst C. Mailman now expects that the real estate investment trust will earn $2.07 per share for the year, down from their prior forecast of $2.12.

OFC has been the subject of a number of other reports. Bank of America cut Corporate Office Properties Trust from a “buy” rating to a “neutral” rating and lowered their price target for the company from $31.00 to $27.00 in a research note on Friday. ValuEngine cut Corporate Office Properties Trust from a “hold” rating to a “sell” rating in a research note on Friday, November 16th. Robert W. Baird reaffirmed a “hold” rating and issued a $29.00 price target on shares of Corporate Office Properties Trust in a research note on Wednesday, August 8th. Wells Fargo & Co reaffirmed a “hold” rating on shares of Corporate Office Properties Trust in a research note on Wednesday, August 15th. Finally, Mizuho reaffirmed a “hold” rating and issued a $31.00 price target on shares of Corporate Office Properties Trust in a research note on Monday, August 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $29.50.

Shares of NYSE:OFC opened at $24.78 on Tuesday. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 2.71 and a beta of 0.79. Corporate Office Properties Trust has a 1-year low of $24.14 and a 1-year high of $31.01. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.92 and a quick ratio of 1.92.

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

Several institutional investors and hedge funds have recently modified their holdings of OFC. FMR LLC grew its position in shares of Corporate Office Properties Trust by 37.5% in the 2nd quarter. FMR LLC now owns 12,387,646 shares of the real estate investment trust’s stock valued at $359,119,000 after purchasing an additional 3,378,017 shares during the period. Morgan Stanley grew its position in shares of Corporate Office Properties Trust by 188.8% in the 2nd quarter. Morgan Stanley now owns 1,227,663 shares of the real estate investment trust’s stock valued at $35,590,000 after purchasing an additional 802,614 shares during the period. Segall Bryant & Hamill LLC acquired a new position in shares of Corporate Office Properties Trust in the 2nd quarter valued at approximately $23,004,000. Frontier Capital Management Co. LLC grew its position in shares of Corporate Office Properties Trust by 41.4% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 2,687,662 shares of the real estate investment trust’s stock valued at $77,915,000 after purchasing an additional 786,333 shares during the period. Finally, WINTON GROUP Ltd acquired a new position in shares of Corporate Office Properties Trust in the 3rd quarter valued at approximately $15,740,000. Institutional investors and hedge funds own 96.76% of the company’s stock.

In other Corporate Office Properties Trust news, CEO Stephen E. Budorick acquired 4,023 shares of the firm’s stock in a transaction that occurred on Monday, November 19th. The stock was acquired at an average cost of $24.90 per share, for a total transaction of $100,172.70. Following the transaction, the chief executive officer now owns 110,528 shares of the company’s stock, valued at $2,752,147.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders purchased a total of 5,160 shares of company stock valued at $131,367 over the last quarter. 0.60% of the stock is owned by insiders.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 31st will be given a $0.275 dividend. The ex-dividend date is Friday, December 28th. This represents a $1.10 annualized dividend and a dividend yield of 4.44%. Corporate Office Properties Trust’s dividend payout ratio 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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