Zacks: Brokerages Anticipate Corporate Office Properties Trust (NYSE:OFC) to Announce $0.56 EPS

Equities research analysts predict that Corporate Office Properties Trust (NYSE:OFCGet Rating) will post $0.56 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Corporate Office Properties Trust’s earnings. The lowest EPS estimate is $0.54 and the highest is $0.57. Corporate Office Properties Trust also posted earnings per share of $0.56 in the same quarter last year. The business is expected to issue its next quarterly earnings report after the market closes on Monday, January 1st.

On average, analysts expect that Corporate Office Properties Trust will report full year earnings of $2.33 per share for the current fiscal year, with EPS estimates ranging from $2.32 to $2.35. For the next financial year, analysts anticipate that the company will report earnings of $2.46 per share, with EPS estimates ranging from $2.43 to $2.49. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover Corporate Office Properties Trust.

Corporate Office Properties Trust (NYSE:OFCGet Rating) last released its earnings results on Wednesday, February 9th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.45). Corporate Office Properties Trust had a return on equity of 4.51% and a net margin of 11.15%. The company had revenue of $185.90 million for the quarter, compared to analysts’ expectations of $166.47 million. During the same period in the prior year, the firm posted $0.56 EPS. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis.

A number of equities analysts have weighed in on the stock. Jefferies Financial Group cut shares of Corporate Office Properties Trust from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $34.00 to $30.00 in a research report on Monday, January 10th. StockNews.com began coverage on Corporate Office Properties Trust in a report on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research upgraded Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a report on Friday, February 18th. Capital One Financial reissued an “overweight” rating on shares of Corporate Office Properties Trust in a research note on Wednesday, January 26th. Finally, KeyCorp lowered Corporate Office Properties Trust from a “sector weight” rating to an “underweight” rating and set a $24.00 target price on the stock. in a research note on Thursday, January 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $28.50.

In related news, Director C Taylor Pickett bought 20,000 shares of the stock in a transaction dated Thursday, February 24th. The stock was bought at an average cost of $24.97 per share, with a total value of $499,400.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Greg J. Thor sold 2,333 shares of the stock in a transaction on Monday, March 28th. The stock was sold at an average price of $28.79, for a total value of $67,167.07. The disclosure for this sale can be found here. Company insiders own 0.65% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. lifted its position in shares of Corporate Office Properties Trust by 1.3% in the third quarter. Daiwa Securities Group Inc. now owns 29,748 shares of the real estate investment trust’s stock worth $803,000 after purchasing an additional 378 shares in the last quarter. Brown Advisory Inc. raised its holdings in shares of Corporate Office Properties Trust by 1.8% in the fourth quarter. Brown Advisory Inc. now owns 22,517 shares of the real estate investment trust’s stock valued at $630,000 after buying an additional 400 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in Corporate Office Properties Trust by 0.5% in the fourth quarter. MetLife Investment Management LLC now owns 94,793 shares of the real estate investment trust’s stock valued at $2,651,000 after acquiring an additional 468 shares during the last quarter. Connable Office Inc. grew its position in shares of Corporate Office Properties Trust by 3.9% during the 3rd quarter. Connable Office Inc. now owns 12,753 shares of the real estate investment trust’s stock worth $344,000 after buying an additional 482 shares during the period. Finally, Schroder Investment Management Group lifted its holdings in shares of Corporate Office Properties Trust by 10.3% during the 4th quarter. Schroder Investment Management Group now owns 5,300 shares of the real estate investment trust’s stock valued at $148,000 after purchasing an additional 493 shares in the last quarter. 98.92% of the stock is owned by institutional investors and hedge funds.

Corporate Office Properties Trust stock traded up $0.22 during midday trading on Tuesday, hitting $27.57. 786,310 shares of the company were exchanged, compared to its average volume of 805,737. The stock’s fifty day simple moving average is $27.01. Corporate Office Properties Trust has a fifty-two week low of $23.89 and a fifty-two week high of $30.51. The company has a market cap of $3.10 billion, a price-to-earnings ratio of 40.31, a PEG ratio of 2.23 and a beta of 0.97. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.32 and a quick ratio of 1.32.

The company also recently declared a quarterly dividend, which will be paid on Friday, April 15th. Stockholders of record on Thursday, March 31st will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 3.99%. The ex-dividend date of this dividend is Wednesday, March 30th. Corporate Office Properties Trust’s dividend payout ratio (DPR) is 161.76%.

About Corporate Office Properties Trust (Get Rating)

COPT is a REIT that owns, manages, leases, develops and selectively acquires office and data center properties. The majority of its portfolio is in locations that support the United States Government and its contractors, most of whom are engaged in national security, defense and information technology (ÂITÂ) related activities servicing what it believes are growing, durable, priority missions (ÂDefense/IT LocationsÂ).

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