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Corporate Office Properties Trust (NYSE:OFC) Posts Quarterly Earnings Results, Misses Expectations By $0.45 EPS

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.

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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.

See Also

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

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