Capital One Financial Weighs in on Corporate Office Properties Trust’s Q3 2022 Earnings (NYSE:OFC)

Corporate Office Properties Trust (NYSE:OFC – Get Rating) – Stock analysts at Capital One Financial cut their Q3 2022 EPS estimates for Corporate Office Properties Trust in a report released on Monday, May 2nd. Capital One Financial analyst C. Lucas now forecasts that the real estate investment trust will post earnings per share of $0.57 for the quarter, down from their previous estimate of $0.58. Capital One Financial has a “Overweight” rating on the stock. Capital One Financial also issued estimates for Corporate Office Properties Trust’s Q1 2023 earnings at $0.60 EPS, Q1 2024 earnings at $0.61 EPS and FY2024 earnings at $2.52 EPS.

Corporate Office Properties Trust (NYSE:OFC – Get Rating) last posted its quarterly earnings data on Thursday, April 28th. The real estate investment trust reported $0.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.04). Corporate Office Properties Trust had a return on equity of 6.67% and a net margin of 19.78%. The business had revenue of $195.48 million during the quarter, compared to the consensus estimate of $168.33 million. During the same period last year, the business posted $0.56 earnings per share. The business’s revenue was up 26.6% on a year-over-year basis.

A number of other brokerages have also recently issued reports on OFC. Zacks Investment Research upgraded Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a report on Friday, February 18th. Jefferies Financial Group lowered Corporate Office Properties Trust from a “buy” rating to a “hold” rating and dropped their target price for the company from $34.00 to $30.00 in a report on Monday, January 10th. KeyCorp downgraded Corporate Office Properties Trust from a “sector weight” rating to an “underweight” rating and set a $24.00 price target for the company. in a report on Thursday, January 13th. Finally, StockNews.com began coverage on Corporate Office Properties Trust in a research note on Thursday, March 31st. They set a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Corporate Office Properties Trust currently has an average rating of “Hold” and a consensus target price of $28.50.

Corporate Office Properties Trust stock opened at $26.18 on Tuesday. The firm has a market cap of $2.94 billion, a P/E ratio of 20.78, a PEG ratio of 2.17 and a beta of 0.95. Corporate Office Properties Trust has a 12-month low of $23.89 and a 12-month high of $30.51. The company’s fifty day moving average is $27.71. The company has a quick ratio of 1.32, a current ratio of 1.79 and a debt-to-equity ratio of 1.28.

Several institutional investors and hedge funds have recently bought and sold shares of OFC. Mutual of America Capital Management LLC grew its position in Corporate Office Properties Trust by 2.0% during the first quarter. Mutual of America Capital Management LLC now owns 102,439 shares of the real estate investment trust’s stock valued at $2,924,000 after acquiring an additional 1,966 shares during the last quarter. SG Americas Securities LLC raised its position in Corporate Office Properties Trust by 225.8% in the 1st quarter. SG Americas Securities LLC now owns 81,998 shares of the real estate investment trust’s stock worth $2,340,000 after purchasing an additional 56,832 shares during the period. C M Bidwell & Associates Ltd. bought a new stake in Corporate Office Properties Trust in the first quarter worth $184,000. Deroy & Devereaux Private Investment Counsel Inc. boosted its position in Corporate Office Properties Trust by 1.1% during the first quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 899,233 shares of the real estate investment trust’s stock valued at $25,664,000 after buying an additional 10,085 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Corporate Office Properties Trust by 29.6% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,654,428 shares of the real estate investment trust’s stock valued at $47,217,000 after acquiring an additional 378,217 shares during the last quarter.

In other Corporate Office Properties Trust news, CAO Greg J. Thor sold 2,333 shares of the company’s stock in a transaction dated Monday, March 28th. The stock was sold at an average price of $28.79, for a total value of $67,167.07. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director C Taylor Pickett purchased 20,000 shares of the stock in a transaction on Thursday, February 24th. The stock was acquired at an average cost of $24.97 per share, for a total transaction of $499,400.00. The disclosure for this purchase can be found here. 0.85% of the stock is owned by insiders.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 15th. Investors of record on Thursday, March 31st were issued a dividend of $0.275 per share. The ex-dividend date was Wednesday, March 30th. This represents a $1.10 dividend on an annualized basis and a yield of 4.20%. Corporate Office Properties Trust’s dividend payout ratio (DPR) is 87.30%.

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 (IT) related activities servicing what it believes are growing, durable, priority missions (Defense/IT Locations).

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