Zacks: Brokerages Expect Corporate Office Properties Trust (OFC) Will Post Quarterly Sales of $126.37 Million

Equities research analysts forecast that Corporate Office Properties Trust (NYSE:OFC) will post sales of $126.37 million for the current fiscal quarter, Zacks Investment Research reports. Five 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 posted sales of $139.80 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 9.6%. The company is expected to issue its next quarterly earnings results on Thursday, April 26th.

On average, analysts expect that Corporate Office Properties Trust will report full-year sales of $126.37 million for the current year, with estimates ranging from $500.04 million to $524.70 million. For the next fiscal year, analysts anticipate that the business will report sales of $546.25 million per share, with estimates ranging from $502.67 million to $580.10 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that that provide coverage for Corporate Office Properties Trust.

Corporate Office Properties Trust (NYSE:OFC) last released its earnings results on Thursday, February 8th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $164.57 million for the quarter, compared to analysts’ expectations of $143.44 million. During the same quarter in the prior year, the business posted $0.51 EPS. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year.

Several research firms recently issued reports on OFC. Zacks Investment Research upgraded Corporate Office Properties Trust from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research report on Wednesday, October 18th. TheStreet upgraded Corporate Office Properties Trust from a “c” rating to a “b-” rating in a research report on Thursday, October 26th. Mizuho reiterated a “hold” rating on shares of Corporate Office Properties Trust in a research report on Wednesday, November 1st. SunTrust Banks reiterated a “hold” rating and set a $34.00 target price on shares of Corporate Office Properties Trust in a research report on Friday, October 27th. Finally, Evercore ISI upgraded Corporate Office Properties Trust from an “in-line” rating to an “outperform” rating in a research report on Monday, December 4th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $31.29.

Shares of Corporate Office Properties Trust (NYSE:OFC) opened at $25.15 on Thursday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.53 and a current ratio of 1.81. Corporate Office Properties Trust has a 1 year low of $24.78 and a 1 year high of $36.03. The stock has a market capitalization of $2,533.25, a PE ratio of 44.12 and a beta of 0.68.

In other news, insider Paul R. Adkins purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, December 21st. The stock was bought at an average cost of $29.06 per share, with a total value of $290,600.00. Following the completion of the purchase, the insider now owns 29,465 shares in the company, valued at $856,252.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lisa G. Trimberger purchased 3,000 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were purchased at an average cost of $30.39 per share, with a total value of $91,170.00. Following the completion of the purchase, the director now owns 1,464 shares of the company’s stock, valued at approximately $44,490.96. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 16,000 shares of company stock valued at $457,970. 0.60% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the stock. Phocas Financial Corp. boosted its stake in Corporate Office Properties Trust by 6.6% during the second quarter. Phocas Financial Corp. now owns 14,013 shares of the real estate investment trust’s stock valued at $491,000 after buying an additional 871 shares during the last quarter. Ameritas Investment Partners Inc. boosted its stake in Corporate Office Properties Trust by 3.0% during the second quarter. Ameritas Investment Partners Inc. now owns 29,755 shares of the real estate investment trust’s stock valued at $1,042,000 after buying an additional 876 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in Corporate Office Properties Trust by 0.9% during the second quarter. Public Employees Retirement System of Ohio now owns 157,116 shares of the real estate investment trust’s stock valued at $5,504,000 after buying an additional 1,465 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Corporate Office Properties Trust by 5.3% during the third quarter. Oregon Public Employees Retirement Fund now owns 36,657 shares of the real estate investment trust’s stock valued at $1,203,000 after buying an additional 1,854 shares during the last quarter. Finally, Swiss National Bank boosted its stake in Corporate Office Properties Trust by 1.2% during the third quarter. Swiss National Bank now owns 166,300 shares of the real estate investment trust’s stock valued at $5,460,000 after buying an additional 2,000 shares during the last quarter.

COPYRIGHT VIOLATION NOTICE: “Zacks: Brokerages Expect Corporate Office Properties Trust (OFC) Will Post Quarterly Sales of $126.37 Million” was originally published by American Banking News and is owned by of American Banking News. If you are reading this article on another site, it was copied illegally and republished in violation of US and international copyright & trademark laws. The correct version of this article can be read at https://www.americanbankingnews.com/2018/02/15/zacks-brokerages-expect-corporate-office-properties-trust-ofc-will-post-quarterly-sales-of-126-37-million.html.

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.

Get a free copy of the Zacks research report on Corporate Office Properties Trust (OFC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Corporate Office Properties Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corporate Office Properties Trust and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply