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.
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.
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.
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