Corporate Office Properties Trust (OFC) Forecasted to Post FY2019 Earnings of $2.03 Per Share

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Corporate Office Properties Trust (NYSE:OFC) – Investment analysts at KeyCorp dropped their FY2019 earnings per share estimates for Corporate Office Properties Trust in a research note issued to investors on Tuesday, April 23rd. KeyCorp analyst C. Mailman now anticipates that the real estate investment trust will earn $2.03 per share for the year, down from their previous forecast of $2.07. KeyCorp has a “Underweight” rating and a $23.00 price objective on the stock. KeyCorp also issued estimates for Corporate Office Properties Trust’s FY2020 earnings at $2.08 EPS.

A number of other brokerages also recently weighed in on OFC. Wells Fargo & Co set a $25.00 price target on shares of Corporate Office Properties Trust and gave the stock a “market perform” rating in a report on Wednesday, January 16th. They noted that the move was a valuation call. Stifel Nicolaus raised shares of Corporate Office Properties Trust from a “sell” rating to a “hold” rating and set a $22.00 price target on the stock in a report on Thursday, January 3rd. ValuEngine raised shares of Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a report on Friday, January 11th. Robert W. Baird raised shares of Corporate Office Properties Trust from a “neutral” rating to an “outperform” rating in a report on Tuesday, January 8th. Finally, Zacks Investment Research downgraded shares of Corporate Office Properties Trust from a “hold” rating to a “sell” rating in a report on Saturday, February 16th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $26.17.

Shares of NYSE:OFC opened at $27.71 on Wednesday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $3.03 billion, a P/E ratio of 13.79, a P/E/G ratio of 2.82 and a beta of 1.04. Corporate Office Properties Trust has a fifty-two week low of $20.03 and a fifty-two week high of $31.01.

Corporate Office Properties Trust (NYSE:OFC) last posted its quarterly earnings data on Thursday, February 7th. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.50. The firm had revenue of $138.48 million for the quarter, compared to the consensus estimate of $152.94 million. Corporate Office Properties Trust had a net margin of 12.49% and a return on equity of 4.64%. The business’s revenue for the quarter was down 15.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.53 EPS.

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date was Thursday, March 28th. Corporate Office Properties Trust’s dividend payout ratio (DPR) is currently 54.73%.

In related news, Director Robert L. Denton sold 4,000 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $26.79, for a total value of $107,160.00. Following the sale, the director now directly owns 276,000 shares in the company, valued at approximately $7,394,040. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert L. Denton sold 1,500 shares of the business’s stock in a transaction dated Wednesday, February 13th. The shares were sold at an average price of $25.65, for a total value of $38,475.00. Following the completion of the sale, the director now owns 280,000 shares in the company, valued at $7,182,000. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in the stock. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Corporate Office Properties Trust in the 1st quarter valued at about $1,902,000. Deprince Race & Zollo Inc. increased its position in shares of Corporate Office Properties Trust by 22.8% in the first quarter. Deprince Race & Zollo Inc. now owns 47,217 shares of the real estate investment trust’s stock worth $1,289,000 after purchasing an additional 8,780 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Corporate Office Properties Trust by 240.6% in the first quarter. Nisa Investment Advisors LLC now owns 5,790 shares of the real estate investment trust’s stock worth $158,000 after purchasing an additional 4,090 shares during the last quarter. Retirement Systems of Alabama increased its position in shares of Corporate Office Properties Trust by 1.7% in the first quarter. Retirement Systems of Alabama now owns 143,536 shares of the real estate investment trust’s stock worth $3,919,000 after purchasing an additional 2,398 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its position in shares of Corporate Office Properties Trust by 2.1% in the first quarter. Louisiana State Employees Retirement System now owns 29,500 shares of the real estate investment trust’s stock worth $805,000 after purchasing an additional 600 shares during the last quarter. Institutional investors and hedge funds own 96.13% of the company’s stock.

About Corporate Office Properties Trust

COPT is a REIT that owns, manages, leases, develops and selectively acquires office and data center properties 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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