Corporate Office Properties Trust (OFC) Expected to Announce Quarterly Sales of $136.37 Million

Equities analysts expect Corporate Office Properties Trust (NYSE:OFC) to report sales of $136.37 million for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Corporate Office Properties Trust’s earnings. The lowest sales estimate is $132.10 million and the highest is $142.76 million. Corporate Office Properties Trust posted sales of $155.48 million during the same quarter last year, which suggests a negative year-over-year growth rate of 12.3%. The firm is expected to report its next quarterly earnings results on Thursday, April 25th.

According to Zacks, analysts expect that Corporate Office Properties Trust will report full year sales of $555.00 million for the current year, with estimates ranging from $533.94 million to $586.31 million. For the next financial year, analysts forecast that the company will post sales of $574.58 million, with estimates ranging from $546.00 million to $595.48 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Corporate Office Properties Trust.

Corporate Office Properties Trust (NYSE:OFC) last released its quarterly earnings results on Thursday, February 7th. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.50. The business had revenue of $138.48 million for the quarter, compared to analyst estimates of $152.94 million. Corporate Office Properties Trust had a net margin of 12.49% and a return on equity of 4.64%. The firm’s revenue was down 15.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.53 earnings per share.

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Corporate Office Properties Trust from a “neutral” rating to an “overweight” rating in a research note on Wednesday, December 19th. Stifel Nicolaus raised shares of Corporate Office Properties Trust from a “sell” rating to a “hold” rating and set a $22.00 price objective on the stock in a research note on Thursday, January 3rd. Zacks Investment Research downgraded shares of Corporate Office Properties Trust from a “hold” rating to a “sell” rating in a report on Saturday, February 16th. ValuEngine downgraded shares of Corporate Office Properties Trust from a “hold” rating to a “sell” rating in a report on Friday, December 28th. Finally, Bank of America cut shares of Corporate Office Properties Trust from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $31.00 to $27.00 in a research report on Friday, November 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $26.80.

In other news, Director Robert L. Denton sold 4,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $26.79, for a total transaction of $107,160.00. Following the completion of the sale, the director now directly owns 276,000 shares of the company’s stock, valued at approximately $7,394,040. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Stephen E. Budorick bought 1,206 shares of the firm’s stock in a transaction dated Monday, December 31st. The shares were acquired at an average cost of $20.74 per share, with a total value of $25,012.44. The disclosure for this purchase can be found here. Company insiders own 0.60% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC increased its position in shares of Corporate Office Properties Trust by 7.1% during the 4th quarter. Geode Capital Management LLC now owns 1,349,969 shares of the real estate investment trust’s stock valued at $28,389,000 after purchasing an additional 89,540 shares during the last quarter. Norges Bank purchased a new stake in shares of Corporate Office Properties Trust during the 4th quarter valued at $26,736,000. Dimensional Fund Advisors LP increased its position in shares of Corporate Office Properties Trust by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,657,161 shares of the real estate investment trust’s stock valued at $34,850,000 after purchasing an additional 25,455 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Corporate Office Properties Trust by 19.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 176,607 shares of the real estate investment trust’s stock valued at $3,714,000 after purchasing an additional 28,492 shares during the last quarter. Finally, Macquarie Group Ltd. increased its position in shares of Corporate Office Properties Trust by 12.1% during the 4th quarter. Macquarie Group Ltd. now owns 39,800 shares of the real estate investment trust’s stock valued at $837,000 after purchasing an additional 4,300 shares during the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

OFC stock traded down $0.40 during trading hours on Monday, hitting $27.30. The company’s stock had a trading volume of 1,012,192 shares, compared to its average volume of 653,088. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of 13.58, a P/E/G ratio of 2.97 and a beta of 1.03. Corporate Office Properties Trust has a 12 month low of $20.03 and a 12 month high of $31.01.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 4.03%. The ex-dividend date of this dividend is Thursday, March 28th. Corporate Office Properties Trust’s dividend payout ratio is presently 54.73%.

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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