Zacks: Analysts Anticipate Corporate Office Properties Trust (OFC) Will Announce Quarterly Sales of $132.55 Million

Equities research analysts expect that Corporate Office Properties Trust (NYSE:OFC) will post $132.55 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Corporate Office Properties Trust’s earnings. The lowest sales estimate is $129.92 million and the highest is $139.81 million. Corporate Office Properties Trust reported sales of $164.57 million in the same quarter last year, which indicates a negative year over year growth rate of 19.5%. The firm is scheduled to announce its next quarterly earnings results on Thursday, February 14th.

According to Zacks, analysts expect that Corporate Office Properties Trust will report full year sales of $527.30 million for the current financial year, with estimates ranging from $514.80 million to $579.44 million. For the next fiscal year, analysts expect that the business will report sales of $552.32 million, with estimates ranging from $520.79 million to $586.31 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Corporate Office Properties Trust.

Corporate Office Properties Trust (NYSE:OFC) last posted its quarterly earnings results on Thursday, October 25th. The real estate investment trust reported $0.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.18. Corporate Office Properties Trust had a net margin of 10.78% and a return on equity of 4.30%. The company had revenue of $137.41 million for the quarter, compared to the consensus estimate of $129.45 million.

A number of research firms have recently weighed in on OFC. Bank of America reduced their price target on shares of Corporate Office Properties Trust from $34.00 to $31.00 and set a “buy” rating on the stock in a research note on Monday, October 29th. Zacks Investment Research upgraded shares of Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a research note on Saturday, July 28th. Stifel Nicolaus restated a “sell” rating and issued a $25.00 price target on shares of Corporate Office Properties Trust in a research note on Friday, July 27th. Mizuho restated a “hold” rating and issued a $31.00 price target on shares of Corporate Office Properties Trust in a research note on Monday, August 6th. Finally, Jefferies Financial Group restated a “$28.83” rating on shares of Corporate Office Properties Trust in a research note on Wednesday, July 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. Corporate Office Properties Trust presently has a consensus rating of “Hold” and a consensus target price of $30.00.

Shares of OFC traded down $0.09 during mid-day trading on Wednesday, reaching $26.18. The company had a trading volume of 531,073 shares, compared to its average volume of 821,295. Corporate Office Properties Trust has a 1-year low of $24.55 and a 1-year high of $32.59. The company has a current ratio of 1.92, a quick ratio of 1.98 and a debt-to-equity ratio of 1.12. The company has a market cap of $2.74 billion, a P/E ratio of 12.90, a PEG ratio of 2.95 and a beta of 0.75.

A number of hedge funds and other institutional investors have recently modified their holdings of OFC. Guggenheim Capital LLC raised its holdings in Corporate Office Properties Trust by 9.8% in the 1st quarter. Guggenheim Capital LLC now owns 39,500 shares of the real estate investment trust’s stock valued at $1,020,000 after buying an additional 3,527 shares during the last quarter. Xact Kapitalforvaltning AB raised its holdings in Corporate Office Properties Trust by 60.4% in the 1st quarter. Xact Kapitalforvaltning AB now owns 14,081 shares of the real estate investment trust’s stock valued at $364,000 after buying an additional 5,300 shares during the last quarter. WINTON GROUP Ltd bought a new position in Corporate Office Properties Trust in the 1st quarter valued at approximately $254,000. Principal Financial Group Inc. raised its holdings in Corporate Office Properties Trust by 2.0% in the 1st quarter. Principal Financial Group Inc. now owns 1,526,874 shares of the real estate investment trust’s stock valued at $39,438,000 after buying an additional 29,988 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in Corporate Office Properties Trust by 54.7% in the 1st quarter. Allianz Asset Management GmbH now owns 309,314 shares of the real estate investment trust’s stock valued at $7,990,000 after buying an additional 109,314 shares during the last quarter.

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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