Corporate Office Properties Trust (NYSE:OFC) Issues Q2 2022 Earnings Guidance

Corporate Office Properties Trust (NYSE:OFCGet Rating) updated its second quarter 2022 earnings guidance on Monday. The company provided EPS guidance of $0.57-$0.59 for the period. The company issued revenue guidance of -.Corporate Office Properties Trust also updated its FY 2022 guidance to $2.31-$2.37 EPS.

Several equities analysts have recently commented on the company. Capital One Financial reaffirmed an overweight rating on shares of Corporate Office Properties Trust in a report on Wednesday, January 26th. StockNews.com assumed coverage on Corporate Office Properties Trust in a report on Thursday, March 31st. They set a hold rating for the company. Jefferies Financial Group lowered Corporate Office Properties Trust from a buy rating to a hold rating and lowered their target price for the company from $34.00 to $30.00 in a report on Monday, January 10th. KeyCorp lowered Corporate Office Properties Trust from a sector weight rating to an underweight rating and set a $24.00 target price for the company. in a report on Thursday, January 13th. Finally, Zacks Investment Research raised Corporate Office Properties Trust from a sell rating to a hold rating in a report on Friday, February 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $28.50.

Shares of OFC stock opened at $25.70 on Tuesday. Corporate Office Properties Trust has a 12-month low of $23.89 and a 12-month high of $30.51. The company has a market cap of $2.89 billion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 2.14 and a beta of 0.95. The business has a 50 day simple moving average of $27.79. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.79 and a quick ratio of 1.32.

Corporate Office Properties Trust (NYSE:OFCGet Rating) last issued its quarterly earnings data on Thursday, April 28th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company earned $0.56 earnings per share. The business’s quarterly revenue was up 26.6% compared to the same quarter last year. On average, sell-side analysts forecast that Corporate Office Properties Trust will post 2.34 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 15th. Investors of record on Thursday, March 31st were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date of this dividend was Wednesday, March 30th. Corporate Office Properties Trust’s dividend payout ratio (DPR) is 87.30%.

In other news, Director C Taylor Pickett purchased 20,000 shares of the firm’s stock in a transaction on Thursday, February 24th. The stock was purchased at an average cost of $24.97 per share, with a total value of $499,400.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Greg J. Thor sold 2,333 shares of the stock in a transaction on Monday, March 28th. The shares were 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. Corporate insiders own 0.85% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of OFC. BlackRock Inc. boosted its stake in Corporate Office Properties Trust by 3.8% during the 4th quarter. BlackRock Inc. now owns 17,831,166 shares of the real estate investment trust’s stock valued at $498,738,000 after purchasing an additional 649,079 shares in the last quarter. Morgan Stanley lifted its position in shares of Corporate Office Properties Trust by 55.5% during the 2nd quarter. Morgan Stanley now owns 412,254 shares of the real estate investment trust’s stock valued at $11,539,000 after acquiring an additional 147,099 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Corporate Office Properties Trust by 19.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 652,386 shares of the real estate investment trust’s stock valued at $18,248,000 after acquiring an additional 104,236 shares during the last quarter. LPL Financial LLC acquired a new stake in shares of Corporate Office Properties Trust during the 4th quarter valued at $775,000. Finally, Jane Street Group LLC acquired a new stake in shares of Corporate Office Properties Trust during the 3rd quarter valued at $656,000.

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

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

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