Brokerages Expect Corporate Office Properties Trust (OFC) Will Announce Quarterly Sales of $126.64 Million

Wall Street analysts forecast that Corporate Office Properties Trust (NYSE:OFC) will post $126.64 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Corporate Office Properties Trust’s earnings. The lowest sales estimate is $123.59 million and the highest is $128.04 million. Corporate Office Properties Trust reported sales of $139.80 million during the same quarter last year, which indicates a negative year over year growth rate of 9.4%. The company is expected to announce its next quarterly earnings report 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 year, analysts forecast that the firm will post 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 an average based on a survey of sell-side research firms that follow Corporate Office Properties Trust.

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

Several brokerages have recently commented on OFC. SunTrust Banks set a $30.00 price objective on shares of Corporate Office Properties Trust and gave the stock a “hold” rating in a report on Monday, January 22nd. Citigroup decreased their price objective on shares of Corporate Office Properties Trust from $32.50 to $28.00 and set a “neutral” rating on the stock in a report on Wednesday, February 21st. Mizuho set a $26.00 price objective on shares of Corporate Office Properties Trust and gave the stock a “hold” rating in a report on Tuesday, February 13th. Robert W. Baird set a $28.00 price objective on shares of Corporate Office Properties Trust and gave the stock a “hold” rating in a report on Friday, February 9th. Finally, Zacks Investment Research lowered shares of Corporate Office Properties Trust from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $30.71.

In other news, CEO Stephen E. Budorick acquired 1,600 shares of the company’s stock in a transaction on Tuesday, March 13th. The shares were bought at an average cost of $26.26 per share, with a total value of $42,016.00. Following the transaction, the chief executive officer now owns 103,242 shares in the company, valued at approximately $2,711,134.92. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert L. Denton sold 1,500 shares of the stock in a transaction that occurred on Friday, March 16th. The shares were sold at an average price of $26.25, for a total transaction of $39,375.00. Following the completion of the sale, the director now directly owns 2,508 shares in the company, valued at $65,835. The disclosure for this sale can be found here. Over the last three months, insiders acquired 5,400 shares of company stock worth $138,944. Insiders own 0.60% of the company’s stock.

Several large investors have recently made changes to their positions in OFC. New York State Common Retirement Fund increased its position in shares of Corporate Office Properties Trust by 0.7% in the 3rd quarter. New York State Common Retirement Fund now owns 329,987 shares of the real estate investment trust’s stock valued at $10,833,000 after purchasing an additional 2,218 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Corporate Office Properties Trust by 28.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 723,212 shares of the real estate investment trust’s stock valued at $23,743,000 after purchasing an additional 160,229 shares during the last quarter. Macquarie Group Ltd. increased its position in shares of Corporate Office Properties Trust by 21.6% in the 3rd quarter. Macquarie Group Ltd. now owns 34,300 shares of the real estate investment trust’s stock valued at $1,126,000 after purchasing an additional 6,102 shares during the last quarter. Legal & General Group Plc increased its position in shares of Corporate Office Properties Trust by 10.3% in the 3rd quarter. Legal & General Group Plc now owns 371,227 shares of the real estate investment trust’s stock valued at $12,188,000 after purchasing an additional 34,641 shares during the last quarter. Finally, Schroder Investment Management Group purchased a new stake in shares of Corporate Office Properties Trust in the 3rd quarter valued at approximately $397,000.

Shares of OFC stock opened at $26.79 on Friday. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 1.27. Corporate Office Properties Trust has a one year low of $24.55 and a one year high of $36.03. The company has a market capitalization of $2,685.03, a PE ratio of 13.20, a P/E/G ratio of 7.72 and a beta of 0.68.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Friday, March 30th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date of this dividend is Wednesday, March 28th. Corporate Office Properties Trust’s dividend payout ratio is presently 54.19%.

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Corporate Office Properties Trust Company Profile

COPT is an office 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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