About Corporate Office Properties Trust (NYSE:OFC)
Corporate Office Properties Trust is a fully-integrated and self-managed real estate investment trust (REIT). The Company owns, manages, leases, develops and acquires office and data center properties. The Company's segments are Defense/IT Locations; Regional Office; operating wholesale data center, and other. As of December 31, 2016, the Company's properties included 164 operating office properties totaling 17.2 million square feet, including 13 triple-net leased, single-tenant data center properties; 11 office properties under construction or redevelopment; 1,028 acres of land controlled for future development, and a wholesale data center with a critical load of 19.25 megawatts. The Company conducts all of its operations through Corporate Office Properties, L.P. (COPLP) and subsidiaries (collectively, the Operating Partnership). COPLP owns real estate both directly and through subsidiary partnerships and limited liability companies (LLCs).
Industry, Sector and Symbol:
- Sector: Finance
- Industry: Office REITs
- Sub-Industry: Office REITs
- Symbol: NYSE:OFC
- CUSIP: 22002T10
- Web: www.copt.com
- Market Cap: $3.13 billion
- Outstanding Shares: 99,036,000
- 50 Day Moving Avg: $32.94
- 200 Day Moving Avg: $33.63
- 52 Week Range: $24.92 - $36.03
Sales & Book Value:
- Trailing P/E Ratio: 43.33
- Foreward P/E Ratio: 35.10
- P/E Growth: 5.20
- Annual Revenue: $578.09 million
- Price / Sales: 5.41
- Book Value: $13.65 per share
- Price / Book: 2.31
- Annual Dividend: $1.10
- Dividend Yield: 3.4%
- EBITDA: $290.41 million
- Net Margins: 15.86%
- Return on Equity: 6.55%
- Return on Assets: 2.48%
- Debt-to-Equity Ratio: 1.35%
- Current Ratio: 2.15%
- Quick Ratio: 2.15%
- Average Volume: 633,969 shs.
- Beta: 0.81
- Short Ratio: 3.41
Frequently Asked Questions for Corporate Office Properties Trust (NYSE:OFC)
What is Corporate Office Properties Trust's stock symbol?
Corporate Office Properties Trust trades on the New York Stock Exchange (NYSE) under the ticker symbol "OFC."
How often does Corporate Office Properties Trust pay dividends? What is the dividend yield for Corporate Office Properties Trust?
Corporate Office Properties Trust declared a quarterly dividend on Friday, August 11th. Shareholders of record on Saturday, September 30th will be given a dividend of $0.275 per share on Monday, October 16th. This represents a $1.10 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date is Thursday, September 28th. View Corporate Office Properties Trust's Dividend History.
How were Corporate Office Properties Trust's earnings last quarter?
Corporate Office Properties Trust (NYSE:OFC) released its quarterly earnings data on Thursday, July, 27th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $0.48 by $0.01. The company earned $151.44 million during the quarter, compared to the consensus estimate of $138.04 million. Corporate Office Properties Trust had a net margin of 15.86% and a return on equity of 6.55%. The firm's revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.52 earnings per share. View Corporate Office Properties Trust's Earnings History.
When will Corporate Office Properties Trust make its next earnings announcement?
What guidance has Corporate Office Properties Trust issued on next quarter's earnings?
Corporate Office Properties Trust updated its FY17 earnings guidance on Thursday, July, 27th. The company provided earnings per share guidance of $2.02-2.06 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.04. Corporate Office Properties Trust also updated its Q3 guidance to $0.51-0.53 EPS.
Where is Corporate Office Properties Trust's stock going? Where will Corporate Office Properties Trust's stock price be in 2017?
9 brokers have issued twelve-month target prices for Corporate Office Properties Trust's shares. Their forecasts range from $29.00 to $39.00. On average, they anticipate Corporate Office Properties Trust's stock price to reach $33.83 in the next twelve months. View Analyst Ratings for Corporate Office Properties Trust.
What are analysts saying about Corporate Office Properties Trust stock?
Here are some recent quotes from research analysts about Corporate Office Properties Trust stock:
- 1. According to Zacks Investment Research, "Corporate Office Properties Trust is a fully-integrated and self-managed real estate investment trust that focuses principally on the ownership, management, leasing, acquisition and development of suburban office buildings located in select submarkets in the Mid-Atlantic region of the United States. Corporate Office Properties operates three real estate service companies: Corporate Development Services, Corporate Office Services and Corporate Management Services. " (10/19/2017)
- 2. Jefferies Group LLC analysts commented, "OFC has been one of the top Trump trades among REITs given the company's focus on the defense industry. That said, with the stock having run 28% since the election, and now trading at an FFO multiple that is 25% above its 5- year average, we believe the potential for fundamental improvement is already priced in. At these levels, we prefer to wait on the sidelines until Congress approves a budget and we have a better sense of the upside." (2/21/2017)
- 3. Mizuho analysts commented, "OFC reported solid 4Q16 results with same store NOI growth of 4.2% possibly restoring any lost confidence from investors after the 1% growth during 3Q16 -- although both were in line with prevailing expectations. Management reiterated 2017 guidance that was set on January 17, 2017. We are actually raising our 2017 estimates slightly today (by $0.02) given what we feel like is more visible stability/growth that lies ahead. In particular, OFC sits at a rare intersection of political agreement, with US defense spending increases being in general agreement from both sides of the aisle." (2/13/2017)
Are investors shorting Corporate Office Properties Trust?
Corporate Office Properties Trust saw a increase in short interest during the month of September. As of September 29th, there was short interest totalling 4,111,722 shares, an increase of 54.6% from the September 15th total of 2,659,275 shares. Based on an average daily trading volume, of 613,037 shares, the days-to-cover ratio is presently 6.7 days. Currently, 4.1% of the shares of the company are short sold.
Who are some of Corporate Office Properties Trust's key competitors?
Some companies that are related to Corporate Office Properties Trust include Highwoods Properties (HIW), Hudson Pacific Properties (HPP), Paramount Group (PGRE), Paramount Group (PGRE), Equity Commonwealth (EQC), Brandywine Realty Trust (BDN), Piedmont Office Realty Trust (PDM), Mack-Cali Realty Corporation (CLI), Franklin Street Properties Corp. (FSP), TIER REIT (TIER), Parkway Properties (PKY), NorthStar Realty Europe Corp. (NRE) and City Office REIT (CIO).
Who are Corporate Office Properties Trust's key executives?
Corporate Office Properties Trust's management team includes the folowing people:
- Thomas F. Brady CPA, Independent Chairman of the Board of Trustees
- Stephen E. Budorick, President, Chief Executive Officer, Trustee
- Paul R. Adkins, Chief Operating Officer, Executive Vice President
- Anthony Mifsud, Chief Financial Officer, Executive Vice President
- Robert L. Denton, Independent Trustee
- Philip L. Hawkins, Independent Trustee
- Elizabeth Ann Hight, Independent Trustee
- David M. Jacobstein J.D., Independent Trustee
- Steven D. Kesler, Independent Trustee
Who owns Corporate Office Properties Trust stock?
Corporate Office Properties Trust's stock is owned by a number of of institutional and retail investors. Top institutional shareholders include Fisher Asset Management LLC (0.63%), Mutual of America Capital Management LLC (0.08%) and State Treasurer State of Michigan (0.04%). Company insiders that own Corporate Office Properties Trust stock include David M Jacobstein, Greg J Thor, Karen M Singer, Robert L Denton and Steven D Kesler. View Institutional Ownership Trends for Corporate Office Properties Trust.
Who sold Corporate Office Properties Trust stock? Who is selling Corporate Office Properties Trust stock?
Corporate Office Properties Trust's stock was sold by a variety of institutional investors in the last quarter, including Fisher Asset Management LLC and State Treasurer State of Michigan. Company insiders that have sold Corporate Office Properties Trust stock in the last year include David M Jacobstein, Greg J Thor, Robert L Denton and Steven D Kesler. View Insider Buying and Selling for Corporate Office Properties Trust.
Who bought Corporate Office Properties Trust stock? Who is buying Corporate Office Properties Trust stock?
How do I buy Corporate Office Properties Trust stock?
Shares of Corporate Office Properties Trust can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is Corporate Office Properties Trust's stock price today?
MarketBeat Community Rating for Corporate Office Properties Trust (NYSE OFC)MarketBeat's community ratings are surveys of what our community members think about Corporate Office Properties Trust and other stocks. Vote "Outperform" if you believe the stock will outperform the S&P 500 over the long term. Vote "Underperform" if you believe the stock will underperform the S&P 500 over the long term. You may vote once every thirty days.
One share of Corporate Office Properties Trust stock can currently be purchased for approximately $31.59.
Consensus Ratings for Corporate Office Properties Trust (NYSE:OFC) (How are Consensus Ratings Calculated?)
MarketBeat calculates consensus ratings using the most recent rating from each brokerage that has rated a stock within the last twelve months. Since brokers often use different ratings systems, each rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings. Each stock's consensus rating is derived from its calculated consensus ratings score (0-1.5 = Sell, 1.5-2.5 = Hold, 2.5-3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months.
MarketBeat will no longer include ratings and price target data in its consensus calculation if a broker drops coverage and MarketBeat has received a report that coverage was dropped. Ratings from certain research firms that issue ratings using purely quantitative methods (such as Zacks, Vetr and ValuEngine) are not included in consensus calculations. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.
|Ratings Breakdown: ||2 Sell Ratings, 6 Hold Ratings, 1 Buy Rating|
|Consensus Rating:||Hold (Score: 1.89)|
|Consensus Price Target: ||$33.83 (7.10% upside)|Consensus Price Target History for Corporate Office Properties Trust (NYSE:OFC)
Analysts' Ratings History for Corporate Office Properties Trust (NYSE:OFC)
(Data available from 10/23/2015 forward)
|Date||Firm||Action||Rating||Price Target||Impact on Share Price||Details|
|9/25/2017||Jefferies Group LLC||Upgrade||Hold -> Buy||$36.00 -> $39.00||High|
|8/1/2017||Stifel Nicolaus||Downgrade||Hold -> Sell||$33.00 -> $29.00||Low|
|7/31/2017||Capital One Financial Corporation||Downgrade||Overweight -> Equal Weight||Medium|
|7/10/2017||Mizuho||Downgrade||Buy -> Neutral||$38.00||Medium|
|3/28/2017||Evercore ISI||Reiterated Rating||Underperform||$32.00||Low|
|2/15/2017||Robert W. Baird||Downgrade||Outperform -> Neutral||$32.00 -> $33.00||N/A|
|1/19/2017||SunTrust Banks, Inc.||Downgrade||Buy -> Hold||$32.00||N/A|
|1/9/2017||Raymond James Financial, Inc.||Downgrade||Outperform -> Market Perform||N/A|
|8/25/2016||BTIG Research||Initiated Coverage||Buy||$33.00||N/A|
|8/15/2016||J P Morgan Chase & Co||Boost Price Target||Neutral||$26.00 -> $29.00||N/A|
|4/12/2016||Credit Suisse Group||Upgrade||Neutral -> Outperform||$23.50 -> $29.00||N/A|
Earnings History for Corporate Office Properties Trust (NYSE:OFC)Earnings History by Quarter for Corporate Office Properties Trust (NYSE OFC)
(Data available from 1/1/2011 forward)
|Date||Quarter||Consensus Estimate||Actual EPS||Revenue Estimate||Actual Revenue||Release Link||Conference Call||Details|
|7/27/2017||Q2 2017||$0.48||$0.49||$138.04 million||$151.44 million||View||N/A|
|4/27/2017||Q1 2017||$0.46||$0.47||$135.16 million||$139.80 million||View||N/A|
|2/9/2017||Q4 2016||$0.22||$0.51||$128.02 million||$141.99 million||View||Listen|
|10/27/2016||Q316||$0.51||$0.51||$125.03 million||$142.10 million||View||Listen|
|4/29/2016||Q116||$0.47||$0.47||$113.83 million||$144.30 million||View||Listen|
|2/12/2016||Q415||$0.52||$0.52||$114.35 million||$143.30 million||View||Listen|
|10/29/2015||Q315||$0.52||$0.52||$107.30 million||$150.70 million||View||Listen|
|7/28/2015||Q215||$0.50||$0.52||$104.27 million||$170.40 million||View||Listen|
|4/28/2015||Q115||$0.46||$0.45||$97.30 million||$161.03 million||View||N/A|
|2/10/2015||Q414||$0.57||$0.49||$95.40 million||$146.97 million||View||N/A|
|10/24/2014||Q314||$0.18||$0.22||$117.85 million||$153.02 million||View||Listen|
|7/25/2014||Q214||$0.16||$0.02||$95.32 million||$139.82 million||View||Listen|
|4/25/2014||Q114||$0.13||$0.48||$95.68 million||$146.67 million||View||Listen|
|2/7/2014||Q413||$0.20||$0.48||$95.94 million||$118.49 million||View||Listen|
|10/25/2013||Q313||$0.28||$0.49||$96.48 million||$136.00 million||View||Listen|
|4/26/2013||Q213||$0.20||$0.48||$104.57 million||$116.74 million||View||Listen|
|2/8/2013||Q412||$0.18||$0.16||$92.31 million||$137.51 million||View||N/A|
Earnings Estimates for Corporate Office Properties Trust (NYSE:OFC)
2017 EPS Consensus Estimate: $2.04
2018 EPS Consensus Estimate: $2.13
(Data provided by Zacks Investment Research)
|Quarter||Number of Estimates||Low Estimate||High Estimate||Average Estimate|
Current Dividend Information for Corporate Office Properties Trust (NYSE:OFC)
|Most Recent Dividend:||10/16/2017|
|Dividend Growth:||0.00% (3 Year Average)|
|Payout Ratio:||150.68% (Trailing 12 Months of Earnings) |
146.67% (Based on This Year's Estimates)
122.22% (Based on Next Year's Estimates)
Dividend History by Quarter for Corporate Office Properties Trust (NYSE OFC)
(Data available from 1/1/2013 forward)
|Announced||Period||Amount||Yield||Ex-Dividend Date||Record Date||Payable Date|
Insider Trading and Institutional Ownership History for Corporate Office Properties Trust (NYSE:OFC)
Insider Ownership Percentage: 0.60%Insider Trades by Quarter for Corporate Office Properties Trust (NYSE:OFC)
(Data available from 1/1/2013 forward)
|Transaction Date||Insider Name||Title||Buy/Sell||Number of Shares||Average Share Price||Total Transaction||Details|
|6/20/2017||Steven D. Kesler||Director||Sell||3,637||$35.40||$128,749.80|| |
|6/7/2017||Robert L Denton||Director||Sell||2,000||$34.51||$69,020.00|| |
|5/19/2017||David M Jacobstein||Director||Sell||3,118||$33.54||$104,577.72|| |
|5/18/2017||Robert L Denton||Director||Sell||3,118||$32.73||$102,052.14|| |
|3/1/2017||Greg J Thor||CAO||Sell||3,555||$34.02||$120,941.10|| |
|11/10/2016||Steven D. Kesler||Director||Sell||4,000||$27.72||$110,880.00|| |
|8/26/2016||David M Jacobstein||Director||Sell||1,924||$28.36||$54,564.64|| |
|8/4/2016||Robert L Denton||Director||Sell||2,000||$29.49||$58,980.00|| |
|6/9/2016||Greg J Thor||CAO||Sell||2,085||$27.56||$57,462.60|| |
|6/1/2016||David M Jacobstein||Director||Sell||1,500||$26.99||$40,485.00|| |
|5/9/2016||Robert L. Denton||Director||Sell||3,007||$26.80||$80,587.60|| |
|3/17/2016||Greg J Thor||CAO||Sell||2,183||$25.95||$56,648.85|| |
|2/17/2016||David M Jacobstein||Director||Sell||2,000||$22.23||$44,460.00|| |
|11/17/2015||Karen M Singer||SVP||Sell||7,500||$21.55||$161,625.00|| |
|6/10/2015||David M Jacobstein||Director||Sell||3,600||$24.87||$89,532.00|| |
|3/16/2015||Steven D Kesler||Director||Sell||5,000||$29.47||$147,350.00|| |
|2/27/2015||David M Jacobstein||Director||Buy||4,055||$29.60||$120,028.00|| |
|2/20/2015||Robert L Denton||Director||Sell||8,000||$29.90||$239,200.00|| |
|12/16/2014||Robert L Denton||Director||Sell||3,000||$27.80||$83,400.00|| |
|9/8/2014||Thomas F Brady||Director||Sell||5,000||$29.05||$145,250.00|| |
|8/19/2014||Robert L Denton||Director||Sell||2,500||$28.27||$70,675.00|| |
|8/13/2014||David M Jacobstein||Director||Sell||5,900||$28.18||$166,262.00|| |
|6/2/2014||Greg J Thor||CAO||Sell||1,593||$27.92||$44,476.56|| |
|5/9/2014||Robert Denton||Director||Sell||2,865||$26.70||$76,495.50|| |
|5/2/2014||Greg Thor||CAO||Sell||1,000||$26.79||$26,790.00|| |
|4/4/2014||Clay Hamlin III||Director||Sell||10,000||$27.00||$270,000.00|| |
|3/5/2014||Greg Thor||CAO||Sell||2,233||$27.08||$60,469.64|| |
|3/4/2014||Steven Kesler||Director||Sell||5,000||$26.67||$133,350.00|| |
|3/3/2014||Greg Thor||CAO||Sell||1,671||$26.77||$44,732.67|| |
|2/19/2014||Clay Hamlin III||Director||Sell||12,849||$27.00||$346,923.00|| |
|2/14/2014||Clay Hamlin III||Director||Sell||17,151||$27.00||$463,077.00|| |
|12/12/2013||Omega Healthcare Investors Inc||Director||Buy||10,000||$22.09||$220,900.00|| |
|11/26/2013||Roger Waesche, Jr.||President||Buy||10,000||$21.85||$218,500.00|| |
|9/18/2013||Clay Hamlin III||Director||Sell||5,000||$24.00||$120,000.00|| |
|9/4/2013||Clay Hamlin III||Director||Sell||5,000||$22.81||$114,050.00|| |
|8/2/2013||Clay Hamlin III||Director||Sell||10,000||$25.56||$255,600.00|| |
|7/8/2013||Clay W Hamlin III||Director||Sell||10,000||$26.29||$262,900.00|| |
|6/3/2013||Clay W Hamlin III||Director||Sell||10,000||$26.56||$265,600.00|| |
|5/14/2013||Robert L Denton||Director||Sell||3,525||$29.27||$103,176.75|| |
|5/1/2013||Clay W Hamlin III||Director||Sell||10,000||$28.86||$288,600.00|| |
Headline Trends for Corporate Office Properties Trust (NYSE:OFC)
Latest Headlines for Corporate Office Properties Trust (NYSE:OFC)
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Corporate Office Properties Trust (OFC) Chart for Monday, October, 23, 2017