Corporate Office Properties Trust (OFC) Updates FY14 Earnings Guidance
Corporate Office Properties Trust (NYSE:OFC) issued an update on its FY14 earnings guidance on Friday morning. The company provided earnings per share guidance of $1.85-1.92 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.88, AmericanBankingNews.com reports. Corporate Office Properties Trust also updated its Q2 guidance to $0.43-0.45 EPS.
Shares of Corporate Office Properties Trust (NYSE:OFC) opened at 26.67 on Friday. Corporate Office Properties Trust has a one year low of $21.48 and a one year high of $29.95. The stock has a 50-day moving average of $26.43 and a 200-day moving average of $24.77. The company has a market cap of $2.321 billion and a price-to-earnings ratio of 40.84.
Corporate Office Properties Trust (NYSE:OFC) last announced its earnings results on Friday, April 25th. The company reported $0.48 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.13 by $0.35. The company had revenue of $146.67 million for the quarter, compared to the consensus estimate of $95.68 million. During the same quarter in the prior year, the company posted $0.11 earnings per share. The company’s quarterly revenue was up 16.2% on a year-over-year basis. On average, analysts predict that Corporate Office Properties Trust will post $0.72 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at ISI Group downgraded shares of Corporate Office Properties Trust from a buy rating to a neutral rating in a research note on Monday, April 14th. They now have a $27.00 price target on the stock. Analysts at Stifel Nicolaus downgraded shares of Corporate Office Properties Trust to a buy rating in a research note on Thursday, February 13th. They now have a $30.00 price target on the stock, up previously from $28.00. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $26.00.
Corporate Office Properties Trust is an office real estate investment trust (NYSE:OFC), which focuses on the customer relationships and specialized tenant requirements in the United States Government and defense information technology, and data sectors.
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