Corporate Office Properties Trust (NYSE:OFC) released its quarterly earnings results on Thursday. The real estate investment trust reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.45), MarketWatch Earnings reports. The firm had revenue of $185.90 million for the quarter, compared to the consensus estimate of $166.47 million. Corporate Office Properties Trust had a return on equity of 8.80% and a net margin of 21.74%. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.56 earnings per share.
OFC traded up $0.63 during trading on Friday, hitting $25.71. The company’s stock had a trading volume of 42,890 shares, compared to its average volume of 921,676. Corporate Office Properties Trust has a twelve month low of $23.89 and a twelve month high of $30.51. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.29. The stock’s fifty day moving average price is $27.01 and its 200-day moving average price is $27.66. The firm has a market capitalization of $2.89 billion, a P/E ratio of 19.79, a PEG ratio of 2.04 and a beta of 0.98.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 18th. Shareholders of record on Monday, January 3rd were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend was Friday, December 31st. Corporate Office Properties Trust’s dividend payout ratio (DPR) is presently 85.27%.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Citadel Advisors LLC lifted its stake in Corporate Office Properties Trust by 37.0% in the third quarter. Citadel Advisors LLC now owns 19,730 shares of the real estate investment trust’s stock valued at $532,000 after buying an additional 5,330 shares during the period. Jane Street Group LLC acquired a new position in shares of Corporate Office Properties Trust during the third quarter worth approximately $656,000. Finally, Morgan Stanley raised its position in shares of 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 during the period. 98.92% of the stock is currently owned by hedge funds and other institutional investors.
OFC has been the topic of several research reports. Raymond James reduced their price target on Corporate Office Properties Trust from $33.00 to $31.00 and set an “outperform” rating on the stock in a report on Tuesday, November 2nd. Jefferies Financial Group cut Corporate Office Properties Trust from a “buy” rating to a “hold” rating and reduced their target price for the company from $34.00 to $30.00 in a report on Monday, January 10th. Capital One Financial reiterated an “overweight” rating on shares of Corporate Office Properties Trust in a report on Wednesday, January 26th. Zacks Investment Research cut Corporate Office Properties Trust from a “hold” rating to a “sell” rating in a report on Saturday, January 29th. Finally, KeyCorp cut Corporate Office Properties Trust from a “sector weight” rating to an “underweight” rating and set a $24.00 target price on the stock. in a report on Thursday, January 13th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Corporate Office Properties Trust presently has a consensus rating of “Hold” and an average target price of $28.50.
Corporate Office Properties Trust Company Profile
Corporate Office Properties Trust, Inc is a real estate investment trust. It acquires, develops, manages, sells, and leases out office properties and data centers. The firm operates through the following segments: Defense/Information Technology Locations, Regional Office, Wholesale Data Center, and Other.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider Corporate Office Properties Trust, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Corporate Office Properties Trust wasn’t on the list.
While Corporate Office Properties Trust currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.