Corporate Office Properties Trust (NYSE:OFC) Expected to Announce Earnings of $0.55 Per Share

Wall Street brokerages forecast that Corporate Office Properties Trust (NYSE:OFC) will report earnings of $0.55 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Corporate Office Properties Trust’s earnings, with estimates ranging from $0.54 to $0.56. Corporate Office Properties Trust reported earnings of $0.51 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 7.8%. The firm is scheduled to issue its next earnings report after the market closes on Thursday, April 29th.

On average, analysts expect that Corporate Office Properties Trust will report full year earnings of $2.21 per share for the current financial year, with EPS estimates ranging from $2.19 to $2.23. For the next year, analysts forecast that the business will report earnings of $2.32 per share, with EPS estimates ranging from $2.30 to $2.36. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover Corporate Office Properties Trust.

Corporate Office Properties Trust (NYSE:OFC) last announced its earnings results on Wednesday, February 3rd. The real estate investment trust reported $0.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.02). Corporate Office Properties Trust had a return on equity of 3.49% and a net margin of 9.67%.

OFC has been the subject of several recent research reports. Wells Fargo & Company raised Corporate Office Properties Trust from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $26.00 to $30.00 in a research note on Thursday, December 10th. Truist raised Corporate Office Properties Trust from a “hold” rating to a “buy” rating in a research note on Monday, March 15th. Truist Securities raised Corporate Office Properties Trust from a “hold” rating to a “buy” rating and increased their price objective for the company from $30.00 to $32.00 in a research note on Monday, March 22nd. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised Corporate Office Properties Trust from a “neutral” rating to a “buy” rating and increased their price objective for the company from $24.00 to $30.00 in a research note on Tuesday, December 15th. Finally, Smith Barney Citigroup raised Corporate Office Properties Trust from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 15th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Corporate Office Properties Trust currently has a consensus rating of “Buy” and an average target price of $28.92.

NYSE OFC traded up $0.13 during mid-day trading on Thursday, hitting $27.17. The stock had a trading volume of 17,665 shares, compared to its average volume of 831,259. The firm’s 50 day moving average is $26.75 and its 200 day moving average is $25.71. Corporate Office Properties Trust has a twelve month low of $20.93 and a twelve month high of $28.50. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.35 and a quick ratio of 1.35. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of 53.02, a PEG ratio of 2.45 and a beta of 1.00.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Wednesday, March 31st will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date is Tuesday, March 30th. Corporate Office Properties Trust’s dividend payout ratio is presently 54.19%.

In related news, CAO Greg J. Thor sold 3,880 shares of the firm’s stock in a transaction dated Tuesday, March 16th. The stock was sold at an average price of $28.01, for a total transaction of $108,678.80. Also, Director Robert L. Denton sold 1,500 shares of the firm’s stock in a transaction dated Thursday, March 11th. The shares were sold at an average price of $27.06, for a total value of $40,590.00. Following the transaction, the director now owns 3,986 shares of the company’s stock, valued at $107,861.16. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp raised its position in Corporate Office Properties Trust by 23.5% in the 3rd quarter. Van ECK Associates Corp now owns 3,405 shares of the real estate investment trust’s stock valued at $81,000 after purchasing an additional 647 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its position in Corporate Office Properties Trust by 9.9% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 8,808 shares of the real estate investment trust’s stock valued at $209,000 after purchasing an additional 795 shares in the last quarter. ProShare Advisors LLC raised its position in Corporate Office Properties Trust by 4.8% in the 4th quarter. ProShare Advisors LLC now owns 22,500 shares of the real estate investment trust’s stock valued at $587,000 after purchasing an additional 1,031 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in Corporate Office Properties Trust in the 4th quarter valued at about $28,000. Finally, Nomura Asset Management Co. Ltd. raised its position in Corporate Office Properties Trust by 1.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 89,400 shares of the real estate investment trust’s stock valued at $2,332,000 after purchasing an additional 1,200 shares in the last quarter. Institutional investors own 98.41% of the company’s stock.

About Corporate Office Properties Trust

COPT is a REIT that owns, manages, leases, develops and selectively acquires office and data center properties. The majority of its portfolio is in locations that support the United States Government and its contractors, most of whom are engaged in national security, defense and information technology (ÂITÂ) related activities servicing what it believes are growing, durable, priority missions (ÂDefense/IT LocationsÂ).

Read More: Resistance Level

Get a free copy of the Zacks research report on Corporate Office Properties Trust (OFC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Corporate Office Properties Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corporate Office Properties Trust and related companies with MarketBeat.com's FREE daily email newsletter.

Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit