Capital One Financial Comments on Corporate Office Properties Trust’s Q1 2023 Earnings (NYSE:OFC)

Corporate Office Properties Trust (NYSE:OFCGet Rating) – Equities research analysts at Capital One Financial boosted their Q1 2023 earnings per share (EPS) estimates for shares of Corporate Office Properties Trust in a research note issued to investors on Wednesday, January 11th. Capital One Financial analyst C. Lucas now anticipates that the real estate investment trust will post earnings of $0.59 per share for the quarter, up from their previous forecast of $0.58. The consensus estimate for Corporate Office Properties Trust’s current full-year earnings is $2.35 per share. Capital One Financial also issued estimates for Corporate Office Properties Trust’s Q2 2023 earnings at $0.61 EPS, Q3 2023 earnings at $0.60 EPS, Q4 2023 earnings at $0.62 EPS, FY2023 earnings at $2.41 EPS, Q1 2024 earnings at $0.60 EPS, Q3 2024 earnings at $0.63 EPS, Q4 2024 earnings at $0.64 EPS and FY2024 earnings at $2.51 EPS.

A number of other analysts also recently commented on OFC. JPMorgan Chase & Co. dropped their price objective on Corporate Office Properties Trust to $29.00 in a research note on Thursday, December 1st. Wells Fargo & Company boosted their price objective on Corporate Office Properties Trust from $26.00 to $29.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 22nd. Finally, StockNews.com upgraded Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a report on Tuesday, December 6th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $27.50.

Corporate Office Properties Trust Stock Up 0.8 %

Shares of Corporate Office Properties Trust stock opened at $27.99 on Monday. The business’s fifty day moving average price is $26.45 and its two-hundred day moving average price is $26.00. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.78 and a quick ratio of 1.78. The company has a market capitalization of $3.15 billion, a P/E ratio of 23.33 and a beta of 0.98. Corporate Office Properties Trust has a 1-year low of $22.22 and a 1-year high of $29.64.

Corporate Office Properties Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 17th. Stockholders of record on Friday, December 30th will be issued a dividend of $0.275 per share. The ex-dividend date is Thursday, December 29th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.93%. Corporate Office Properties Trust’s dividend payout ratio is 91.67%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. M&T Bank Corp grew its holdings in shares of Corporate Office Properties Trust by 2.6% during the second quarter. M&T Bank Corp now owns 20,734 shares of the real estate investment trust’s stock valued at $541,000 after buying an additional 532 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Corporate Office Properties Trust by 2.3% during the second quarter. Exchange Traded Concepts LLC now owns 24,088 shares of the real estate investment trust’s stock valued at $631,000 after buying an additional 552 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Corporate Office Properties Trust by 0.8% during the fourth quarter. State of Alaska Department of Revenue now owns 72,237 shares of the real estate investment trust’s stock valued at $1,873,000 after buying an additional 600 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Corporate Office Properties Trust by 1.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 46,610 shares of the real estate investment trust’s stock valued at $1,221,000 after buying an additional 636 shares in the last quarter. Finally, Ronald Blue Trust Inc. boosted its position in Corporate Office Properties Trust by 25.5% during the third quarter. Ronald Blue Trust Inc. now owns 3,365 shares of the real estate investment trust’s stock valued at $88,000 after purchasing an additional 684 shares during the last quarter.

About Corporate Office Properties Trust

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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).

Further Reading

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

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