Corporate Office Properties Trust (NYSE:OFC – Get Rating) announced its quarterly earnings data on Thursday. The real estate investment trust reported $0.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.04), MarketWatch Earnings reports. The firm had revenue of $195.48 million during the quarter, compared to the consensus estimate of $168.33 million. Corporate Office Properties Trust had a net margin of 11.15% and a return on equity of 4.51%. The firm’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.56 earnings per share.
OFC stock traded down $0.98 during midday trading on Friday, reaching $26.69. The company had a trading volume of 845,278 shares, compared to its average volume of 773,078. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.37. The stock has a 50 day moving average price of $27.67 and a 200 day moving average price of $27.32. The firm has a market capitalization of $3.00 billion, a PE ratio of 40.69, a P/E/G ratio of 2.29 and a beta of 0.97. Corporate Office Properties Trust has a fifty-two week low of $23.89 and a fifty-two week high of $30.51.
The business also recently announced a quarterly dividend, which was paid on Friday, April 15th. Shareholders of record on Thursday, March 31st were paid a $0.275 dividend. The ex-dividend date of this dividend was Wednesday, March 30th. This represents a $1.10 dividend on an annualized basis and a yield of 4.12%. Corporate Office Properties Trust’s payout ratio is currently 161.76%.
Several analysts recently weighed in on OFC shares. Jefferies Financial Group lowered Corporate Office Properties Trust from a “buy” rating to a “hold” rating and lowered their price objective for the company from $34.00 to $30.00 in a report on Monday, January 10th. StockNews.com started coverage on Corporate Office Properties Trust in a report on Thursday, March 31st. They issued a “hold” rating for the company. KeyCorp lowered Corporate Office Properties Trust from a “sector weight” rating to an “underweight” rating and set a $24.00 price objective for the company. in a report on Thursday, January 13th. Zacks Investment Research raised Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a report on Friday, February 18th. Finally, Capital One Financial restated an “overweight” rating on shares of Corporate Office Properties Trust in a research note on Wednesday, January 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Corporate Office Properties Trust currently has an average rating of “Hold” and an average price target of $28.50.
In other Corporate Office Properties Trust news, Director C Taylor Pickett acquired 20,000 shares of Corporate Office Properties Trust stock in a transaction dated Thursday, February 24th. The stock was acquired at an average cost of $24.97 per share, for a total transaction of $499,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Greg J. Thor sold 2,333 shares of the business’s stock in a transaction that occurred on Monday, March 28th. The stock was sold at an average price of $28.79, for a total value of $67,167.07. The disclosure for this sale can be found here. Insiders own 0.85% of the company’s stock.
A number of large investors have recently made changes to their positions in OFC. BlackRock Inc. raised its holdings in Corporate Office Properties Trust by 3.8% during the fourth quarter. BlackRock Inc. now owns 17,831,166 shares of the real estate investment trust’s stock worth $498,738,000 after purchasing an additional 649,079 shares in the last quarter. Morgan Stanley raised its holdings in Corporate Office Properties Trust by 55.5% during the second quarter. Morgan Stanley now owns 412,254 shares of the real estate investment trust’s stock worth $11,539,000 after purchasing an additional 147,099 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Corporate Office Properties Trust by 19.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 652,386 shares of the real estate investment trust’s stock worth $18,248,000 after purchasing an additional 104,236 shares in the last quarter. LPL Financial LLC bought a new stake in Corporate Office Properties Trust during the fourth quarter worth approximately $775,000. Finally, Jane Street Group LLC bought a new stake in Corporate Office Properties Trust during the third quarter worth approximately $656,000. 98.92% of the stock is currently owned by hedge funds and other institutional investors.
Corporate Office Properties Trust Company Profile (Get Rating)
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).
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