Jefferies Financial Group Analysts Decrease Earnings Estimates for Corporate Office Properties Trust (NYSE:OFC)

Corporate Office Properties Trust (NYSE:OFCGet Rating) – Equities researchers at Jefferies Financial Group dropped their Q1 2023 earnings per share estimates for Corporate Office Properties Trust in a research note issued on Thursday, April 14th. Jefferies Financial Group analyst P. Abramowitz now forecasts that the real estate investment trust will post earnings per share of $0.59 for the quarter, down from their previous estimate of $0.60. Jefferies Financial Group currently has a “Hold” rating and a $30.00 price target on the stock. Jefferies Financial Group also issued estimates for Corporate Office Properties Trust’s Q4 2023 earnings at $0.61 EPS, FY2023 earnings at $2.42 EPS, Q1 2024 earnings at $0.62 EPS and FY2024 earnings at $2.55 EPS.

OFC has been the topic of a number of other research reports. KeyCorp cut shares of 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. Capital One Financial reissued an “overweight” rating on shares of Corporate Office Properties Trust in a research note on Wednesday, January 26th. Zacks Investment Research raised shares of Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a research note on Friday, February 18th. Finally, StockNews.com started coverage on shares of Corporate Office Properties Trust in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $28.50.

NYSE OFC opened at $28.17 on Friday. The stock has a market cap of $3.17 billion, a P/E ratio of 41.43, a PEG ratio of 2.29 and a beta of 0.97. The company’s 50-day simple moving average is $27.17 and its 200 day simple moving average is $27.30. Corporate Office Properties Trust has a twelve month low of $23.89 and a twelve month high of $30.51. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.37.

Corporate Office Properties Trust (NYSE:OFCGet Rating) last posted its quarterly earnings data on Wednesday, February 9th. The real estate investment trust reported $0.12 earnings per share (EPS) 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 the consensus estimate of $166.47 million. During the same quarter in the previous year, the firm posted $0.56 EPS. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year.

Several hedge funds have recently made changes to their positions in the company. Daiwa Securities Group Inc. lifted its position in shares of Corporate Office Properties Trust by 1.3% during 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. lifted its position in shares of Corporate Office Properties Trust by 1.8% during the fourth quarter. Brown Advisory Inc. now owns 22,517 shares of the real estate investment trust’s stock worth $630,000 after purchasing an additional 400 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of Corporate Office Properties Trust by 0.5% during the fourth quarter. MetLife Investment Management LLC now owns 94,793 shares of the real estate investment trust’s stock worth $2,651,000 after purchasing an additional 468 shares in the last quarter. Connable Office Inc. lifted its position in shares of Corporate Office Properties Trust by 3.9% during the third quarter. Connable Office Inc. now owns 12,753 shares of the real estate investment trust’s stock worth $344,000 after purchasing an additional 482 shares in the last quarter. Finally, Schroder Investment Management Group lifted its position in shares of Corporate Office Properties Trust by 10.3% during the fourth quarter. Schroder Investment Management Group now owns 5,300 shares of the real estate investment trust’s stock worth $148,000 after purchasing an additional 493 shares in the last quarter. Institutional investors own 98.92% of the company’s stock.

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

The company also recently declared a quarterly dividend, which will be paid on Friday, April 15th. Shareholders of record on Thursday, March 31st will be given a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, March 30th. This represents a $1.10 dividend on an annualized basis and a yield of 3.90%. Corporate Office Properties Trust’s dividend payout ratio (DPR) is presently 161.76%.

Corporate Office Properties Trust Company Profile (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).

See Also

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

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