Brokerages Expect Corporate Office Properties Trust (OFC) Will Announce Quarterly Sales of $127.35 Million

Brokerages forecast that Corporate Office Properties Trust (NYSE:OFC) will post sales of $127.35 million for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Corporate Office Properties Trust’s earnings, with estimates ranging from $124.58 million to $130.57 million. Corporate Office Properties Trust posted sales of $141.99 million during the same quarter last year, which suggests a negative year over year growth rate of 10.3%. The business is scheduled to issue its next earnings report on Thursday, February 8th.

According to Zacks, analysts expect that Corporate Office Properties Trust will report full year sales of $127.35 million for the current year, with estimates ranging from $505.14 million to $512.87 million. For the next year, analysts expect that the company will post sales of $516.10 million per share, with estimates ranging from $505.71 million to $524.70 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Corporate Office Properties Trust.

Corporate Office Properties Trust (NYSE:OFC) last announced its earnings results on Thursday, October 26th. The real estate investment trust reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. Corporate Office Properties Trust had a net margin of 14.38% and a return on equity of 5.89%. The business had revenue of $157.00 million during the quarter, compared to the consensus estimate of $142.74 million. During the same quarter last year, the firm earned $0.51 earnings per share. Corporate Office Properties Trust’s quarterly revenue was up 10.5% on a year-over-year basis.

OFC has been the subject of several research analyst reports. Zacks Investment Research downgraded shares of Corporate Office Properties Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. Jefferies Group reaffirmed a “buy” rating and issued a $38.00 price target on shares of Corporate Office Properties Trust in a research note on Wednesday, December 6th. Evercore ISI raised shares of Corporate Office Properties Trust from an “in-line” rating to an “outperform” rating in a research note on Monday, December 4th. Bank of America downgraded shares of Corporate Office Properties Trust from a “buy” rating to a “neutral” rating in a research note on Monday, December 4th. Finally, Mizuho reaffirmed a “hold” rating and issued a $32.00 price target on shares of Corporate Office Properties Trust in a research note on Friday, November 24th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $33.57.

In other Corporate Office Properties Trust news, Director Lisa G. Trimberger acquired 3,000 shares of Corporate Office Properties Trust stock in a transaction dated Thursday, November 30th. The stock was purchased at an average cost of $30.39 per share, for a total transaction of $91,170.00. Following the completion of the acquisition, the director now directly owns 1,464 shares of the company’s stock, valued at $44,490.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Paul R. Adkins acquired 10,000 shares of Corporate Office Properties Trust stock in a transaction dated Thursday, December 21st. The shares were acquired at an average price of $29.06 per share, with a total value of $290,600.00. Following the completion of the acquisition, the insider now directly owns 29,465 shares of the company’s stock, valued at $856,252.90. The disclosure for this purchase can be found here. Insiders own 0.60% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of OFC. Garner Asset Management Corp purchased a new position in Corporate Office Properties Trust during the second quarter worth about $246,000. Cubist Systematic Strategies LLC purchased a new position in Corporate Office Properties Trust during the second quarter worth about $248,000. Riverhead Capital Management LLC boosted its holdings in Corporate Office Properties Trust by 48.9% during the second quarter. Riverhead Capital Management LLC now owns 7,294 shares of the real estate investment trust’s stock worth $255,000 after purchasing an additional 2,394 shares during the last quarter. Shelton Capital Management purchased a new position in Corporate Office Properties Trust during the second quarter worth about $293,000. Finally, Crossmark Global Holdings Inc. purchased a new position in Corporate Office Properties Trust during the third quarter worth about $314,000.

Shares of Corporate Office Properties Trust (OFC) traded up $0.14 during midday trading on Friday, reaching $27.80. 444,200 shares of the company were exchanged, compared to its average volume of 572,675. Corporate Office Properties Trust has a fifty-two week low of $27.47 and a fifty-two week high of $36.03. The company has a market capitalization of $3,020.00, a P/E ratio of 40.29 and a beta of 0.81. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.53 and a quick ratio of 1.53.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.96%. The ex-dividend date is Thursday, December 28th. Corporate Office Properties Trust’s dividend payout ratio (DPR) is currently 159.42%.

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Corporate Office Properties Trust Company Profile

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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Earnings History and Estimates for Corporate Office Properties Trust (NYSE:OFC)

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