Corporate Office Properties Trust (OFC) Posts Quarterly Earnings Results, Misses Estimates By $0.43 EPS

Corporate Office Properties Trust (NYSE:OFC) announced its earnings results on Thursday. The real estate investment trust reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.43), Yahoo Finance reports. Corporate Office Properties Trust had a return on equity of 5.89% and a net margin of 14.38%. The business had revenue of $164.57 million for the quarter, compared to the consensus estimate of $143.44 million. During the same period in the prior year, the business posted $0.51 earnings per share. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. Corporate Office Properties Trust updated its Q1 guidance to $0.48-0.50 EPS and its FY18 guidance to $1.95-2.05 EPS.

Shares of Corporate Office Properties Trust (NYSE:OFC) traded up $0.16 during trading hours on Friday, reaching $25.90. 722,084 shares of the company were exchanged, compared to its average volume of 740,289. Corporate Office Properties Trust has a fifty-two week low of $25.09 and a fifty-two week high of $36.03. 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 company has a market capitalization of $2,800.00, a PE ratio of 37.30 and a beta of 0.68.

OFC has been the topic of several recent research reports. Zacks Investment Research cut shares of Corporate Office Properties Trust from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. TheStreet raised shares of Corporate Office Properties Trust from a “c” rating to a “b-” rating in a research note on Thursday, October 26th. SunTrust Banks reissued a “hold” rating and issued a $34.00 price objective on shares of Corporate Office Properties Trust in a research note on Friday, October 27th. Bank of America cut shares of Corporate Office Properties Trust from a “buy” rating to a “neutral” rating in a research note on Monday, December 4th. Finally, Mizuho reissued a “hold” rating on shares of Corporate Office Properties Trust in a research note on Wednesday, November 1st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. Corporate Office Properties Trust currently has a consensus rating of “Hold” and an average price target of $33.00.

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

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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.

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

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