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S&P 500   4,662.85 (+0.08%)
DOW   35,911.81 (-0.56%)
S&P 500   4,662.85 (+0.08%)
DOW   35,911.81 (-0.56%)
S&P 500   4,662.85 (+0.08%)
DOW   35,911.81 (-0.56%)

$167.83 Million in Sales Expected for Corporate Office Properties Trust (NYSE:OFC) This Quarter

Last updated on Sunday, January 16, 2022 | 2022 MarketBeat

Analysts expect Corporate Office Properties Trust (NYSE:OFC) to announce $167.83 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Corporate Office Properties Trust's earnings. The highest sales estimate is $170.03 million and the lowest is $165.60 million. Corporate Office Properties Trust posted sales of $164.03 million during the same quarter last year, which suggests a positive year over year growth rate of 2.3%. The company is scheduled to issue its next earnings results on Thursday, February 3rd.

According to Zacks, analysts expect that Corporate Office Properties Trust will report full-year sales of $665.89 million for the current year, with estimates ranging from $660.51 million to $670.80 million. For the next year, analysts expect that the business will post sales of $683.16 million, with estimates ranging from $666.51 million to $700.93 million. Zacks' sales calculations are a mean average based on a survey of research firms that that provide coverage for Corporate Office Properties Trust.

Corporate Office Properties Trust (NYSE:OFC) last released its earnings results on Thursday, October 28th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of $0.56 by ($0.32). The business had revenue of $174.64 million for the quarter, compared to analyst estimates of $161.22 million. Corporate Office Properties Trust had a return on equity of 8.80% and a net margin of 21.74%. Corporate Office Properties Trust's quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.54 earnings per share.

Several research analysts have issued reports on OFC shares. KeyCorp downgraded shares of Corporate Office Properties Trust from a "sector weight" rating to an "underweight" rating and set a $24.00 price objective on the stock. in a research report on Thursday. Zacks Investment Research downgraded shares of Corporate Office Properties Trust from a "buy" rating to a "hold" rating in a report on Tuesday, December 7th. Raymond James lowered their target price on shares of 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. Finally, Jefferies Financial Group downgraded shares of Corporate Office Properties Trust from a "buy" rating to a "hold" rating and lowered their target price for the company from $34.00 to $30.00 in a report on Monday, January 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $29.20.

Shares of Corporate Office Properties Trust stock opened at $27.93 on Friday. Corporate Office Properties Trust has a 1 year low of $25.11 and a 1 year high of $30.51. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.28 and a current ratio of 1.28. The company has a market capitalization of $3.14 billion, a P/E ratio of 21.65, a PEG ratio of 2.29 and a beta of 0.98. The company's fifty day moving average is $27.62 and its two-hundred day moving average is $28.07.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 18th. Investors of record on Monday, January 3rd will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.94%. The ex-dividend date is Friday, December 31st. Corporate Office Properties Trust's dividend payout ratio (DPR) is 85.27%.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in Corporate Office Properties Trust by 47.4% during the third quarter. BlackRock Inc. now owns 17,182,087 shares of the real estate investment trust's stock worth $463,571,000 after acquiring an additional 5,527,197 shares during the last quarter. Vanguard Group Inc. raised its position in Corporate Office Properties Trust by 3.1% during the second quarter. Vanguard Group Inc. now owns 16,457,453 shares of the real estate investment trust's stock worth $460,643,000 after acquiring an additional 500,419 shares during the last quarter. State Street Corp raised its position in Corporate Office Properties Trust by 13.6% during the second quarter. State Street Corp now owns 5,568,091 shares of the real estate investment trust's stock worth $157,389,000 after acquiring an additional 665,514 shares during the last quarter. Victory Capital Management Inc. raised its position in Corporate Office Properties Trust by 1.4% during the third quarter. Victory Capital Management Inc. now owns 4,211,185 shares of the real estate investment trust's stock worth $113,618,000 after acquiring an additional 56,355 shares during the last quarter. Finally, Bank of America Corp DE raised its position in Corporate Office Properties Trust by 8.9% during the second quarter. Bank of America Corp DE now owns 2,494,481 shares of the real estate investment trust's stock worth $69,820,000 after acquiring an additional 204,843 shares during the last quarter. Hedge funds and other institutional investors own 98.92% of the company's stock.

About Corporate Office Properties Trust

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.

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

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