Corporate Office Properties Trust Forecasted to Earn FY2017 Earnings of $2.05 Per Share (OFC)
Corporate Office Properties Trust (NYSE:OFC) – Investment analysts at Jefferies Group upped their FY2017 EPS estimates for Corporate Office Properties Trust in a research note issued to investors on Monday. Jefferies Group analyst J. Petersen now expects that the real estate investment trust will post earnings per share of $2.05 for the year, up from their previous estimate of $2.04. Jefferies Group currently has a “Buy” rating and a $38.00 target price on the stock. Jefferies Group also issued estimates for Corporate Office Properties Trust’s FY2018 earnings at $2.11 EPS.
Corporate Office Properties Trust (NYSE:OFC) last posted its earnings results on Thursday, October 26th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. The company had revenue of $157.00 million for the quarter, compared to analysts’ expectations of $142.74 million. Corporate Office Properties Trust had a return on equity of 5.89% and a net margin of 14.38%. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period last year, the business posted $0.51 earnings per share.
Corporate Office Properties Trust (NYSE OFC) opened at $29.65 on Tuesday. The company has a market capitalization of $3,048.03, a price-to-earnings ratio of 15.30 and a beta of 0.81. Corporate Office Properties Trust has a fifty-two week low of $29.03 and a fifty-two week high of $36.03. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 1.34.
Several institutional investors have recently made changes to their positions in OFC. Cadence Capital Management LLC acquired a new stake in shares of Corporate Office Properties Trust during the 2nd quarter valued at about $204,000. World Asset Management Inc lifted its holdings in shares of Corporate Office Properties Trust by 3.8% during the 2nd quarter. World Asset Management Inc now owns 6,297 shares of the real estate investment trust’s stock valued at $221,000 after buying an additional 229 shares during the last quarter. Garner Asset Management Corp acquired a new stake in shares of Corporate Office Properties Trust during the 2nd quarter valued at about $246,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Corporate Office Properties Trust during the 2nd quarter valued at about $248,000. Finally, Riverhead Capital Management LLC lifted its holdings in shares of Corporate Office Properties Trust by 48.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 7,294 shares of the real estate investment trust’s stock valued at $255,000 after buying an additional 2,394 shares during the last quarter.
In other Corporate Office Properties Trust news, Director Lisa G. Trimberger acquired 3,000 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was purchased at an average cost of $30.39 per share, for a total transaction of $91,170.00. Following the transaction, the director now owns 1,464 shares of the company’s stock, valued at approximately $44,490.96. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.60% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be given a dividend of $0.275 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.10 dividend on an annualized basis and a yield of 3.71%. Corporate Office Properties Trust’s payout ratio is presently 159.42%.
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About Corporate Office Properties Trust
Corporate Office Properties Trust is a fully-integrated and self-managed real estate investment trust (REIT). The Company owns, manages, leases, develops and acquires office and data center properties. The Company’s segments are Defense/IT Locations; Regional Office; operating wholesale data center, and other.
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