Corporate Office Properties Trust (OFC) Expected to Announce Quarterly Sales of $126.64 Million

Wall Street brokerages forecast that Corporate Office Properties Trust (NYSE:OFC) will report sales of $126.64 million for the current quarter, according to Zacks. Six analysts have provided estimates for Corporate Office Properties Trust’s earnings, with the highest sales estimate coming in at $128.04 million and the lowest estimate coming in at $123.59 million. Corporate Office Properties Trust posted sales of $139.80 million in the same quarter last year, which suggests a negative year-over-year growth rate of 9.4%. The company is expected to issue its next earnings results on Thursday, April 26th.

According to Zacks, analysts expect that Corporate Office Properties Trust will report full-year sales of $126.64 million for the current fiscal year, with estimates ranging from $500.04 million to $526.20 million. For the next fiscal year, analysts anticipate that the company will report sales of $545.25 million per share, with estimates ranging from $502.67 million to $580.70 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Corporate Office Properties Trust.

Corporate Office Properties Trust (NYSE:OFC) last released its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.43). Corporate Office Properties Trust had a return on equity of 4.82% and a net margin of 11.44%. The firm had revenue of $164.57 million for the quarter, compared to analyst estimates of $143.44 million. During the same period last year, the company earned $0.51 EPS. The company’s revenue was up 15.9% compared to the same quarter last year.

A number of brokerages have recently issued reports on OFC. SunTrust Banks set a $29.00 price objective on Corporate Office Properties Trust and gave the stock a “hold” rating in a research note on Friday, February 9th. Evercore ISI upgraded Corporate Office Properties Trust from an “in-line” rating to an “outperform” rating in a research note on Monday, December 4th. Mizuho reiterated a “hold” rating and set a $32.00 price objective on shares of Corporate Office Properties Trust in a research note on Friday, November 24th. TheStreet cut Corporate Office Properties Trust from a “b-” rating to a “c” rating in a research note on Friday, February 9th. Finally, Robert W. Baird set a $28.00 price objective on Corporate Office Properties Trust and gave the stock a “hold” rating in a research note on Friday, February 9th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $30.88.

Shares of OFC stock traded down $0.46 during trading on Wednesday, hitting $25.15. The stock had a trading volume of 1,372,322 shares, compared to its average volume of 916,532. Corporate Office Properties Trust has a one year low of $24.77 and a one year high of $36.03. The company has a market cap of $2,593.87, a PE ratio of 44.12, a P/E/G ratio of 7.46 and a beta of 0.74. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 1.27.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Friday, March 30th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date is Wednesday, March 28th. Corporate Office Properties Trust’s dividend payout ratio (DPR) is presently 192.99%.

In other Corporate Office Properties Trust news, CEO Stephen E. Budorick purchased 1,600 shares of the company’s stock in a transaction that occurred on Tuesday, March 13th. The shares were acquired at an average price of $26.26 per share, for a total transaction of $42,016.00. Following the purchase, the chief executive officer now owns 103,242 shares in the company, valued at $2,711,134.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert L. Denton sold 8,500 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $25.98, for a total value of $220,830.00. Following the completion of the sale, the director now owns 2,508 shares in the company, valued at approximately $65,157.84. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 5,400 shares of company stock worth $138,944. 0.60% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of OFC. Raymond James Financial Services Advisors Inc. bought a new stake in Corporate Office Properties Trust in the 4th quarter valued at $237,000. HBK Investments L P bought a new position in Corporate Office Properties Trust during the 4th quarter worth $242,000. Xact Kapitalforvaltning AB bought a new position in Corporate Office Properties Trust during the 4th quarter worth $256,000. ARP Americas LP bought a new position in Corporate Office Properties Trust during the 4th quarter worth $266,000. Finally, Jane Street Group LLC bought a new position in Corporate Office Properties Trust during the 4th quarter worth $293,000.

COPYRIGHT VIOLATION NOTICE: This story was posted by Ticker Report and is the property of of Ticker Report. If you are reading this story on another website, it was illegally copied and republished in violation of US and international copyright and trademark laws. The original version of this story can be accessed at https://www.tickerreport.com/banking-finance/3297579/corporate-office-properties-trust-ofc-expected-to-announce-quarterly-sales-of-126-64-million.html.

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.

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.

Latest News

BTIM Corp. Purchases 5,772 Shares of Johnson & Johnson
BTIM Corp. Purchases 5,772 Shares of Johnson & Johnson
AT&T  Shares Sold by Boston Financial Mangement LLC
AT&T Shares Sold by Boston Financial Mangement LLC
BlackRock Inc. Grows Stake in Evans Bancorp Inc.
BlackRock Inc. Grows Stake in Evans Bancorp Inc.
Ellington Residential  Stake Lessened by BlackRock Inc.
Ellington Residential Stake Lessened by BlackRock Inc.
Hemisphere Media Group  Shares Bought by BlackRock Inc.
Hemisphere Media Group Shares Bought by BlackRock Inc.
BlackRock Inc. Sells 33,039 Shares of Valhi, Inc.
BlackRock Inc. Sells 33,039 Shares of Valhi, Inc.


© 2006-2018 Ticker Report. Google+.