Corporate Office Properties Trust (OFC) Updates FY18 Earnings Guidance

Corporate Office Properties Trust (NYSE:OFC) issued an update on its FY18 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.95-2.05 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.02. Corporate Office Properties Trust also updated its Q1 guidance to $0.48-0.50 EPS.

Shares of Corporate Office Properties Trust (NYSE OFC) traded down $0.28 during mid-day trading on Thursday, reaching $25.74. 2,508,120 shares of the company’s stock were exchanged, compared to its average volume of 758,919. Corporate Office Properties Trust has a 1 year low of $25.09 and a 1 year high of $36.03. The company has a market capitalization of $2,565.93, a PE ratio of 37.94 and a beta of 0.68. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 1.34.

Corporate Office Properties Trust (NYSE:OFC) last posted its earnings results on Thursday, February 8th. The real estate investment trust reported $0.53 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.53. The company had revenue of $164.57 million for the quarter, compared to analyst estimates of $143.44 million. Corporate Office Properties Trust had a net margin of 14.38% and a return on equity of 5.89%. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period last year, the business posted $0.51 earnings per share. analysts forecast that Corporate Office Properties Trust will post 2.03 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were issued a $0.275 dividend. The ex-dividend date was Thursday, December 28th. This represents a $1.10 annualized dividend and a yield of 4.27%. Corporate Office Properties Trust’s dividend payout ratio (DPR) is presently 159.42%.

OFC has been the topic of several analyst reports. Zacks Investment Research lowered shares of Corporate Office Properties Trust from a hold rating to a sell rating in a report on Friday, November 10th. Jefferies Group reiterated a buy rating and issued a $38.00 target price on shares of Corporate Office Properties Trust in a report on Wednesday, December 6th. TheStreet upgraded shares of Corporate Office Properties Trust from a c rating to a b- rating in a report on Thursday, October 26th. Mizuho reiterated a hold rating and issued a $32.00 target price on shares of Corporate Office Properties Trust in a report on Friday, November 24th. Finally, ValuEngine lowered shares of Corporate Office Properties Trust from a buy rating to a hold rating in a report on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. Corporate Office Properties Trust currently has a consensus rating of Hold and a consensus target price of $33.00.

In related news, Director Lisa G. Trimberger acquired 3,000 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were acquired at an average cost of $30.39 per share, for a total transaction of $91,170.00. Following the completion of the acquisition, the director now directly owns 1,464 shares in the company, valued at approximately $44,490.96. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul R. Adkins acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, December 21st. The shares were bought at an average price of $29.06 per share, for a total transaction of $290,600.00. Following the completion of the acquisition, the insider now owns 29,465 shares of the company’s stock, valued at $856,252.90. The disclosure for this purchase can be found here. Company insiders own 0.60% of the company’s stock.

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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.

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

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