SunTrust Banks Equities Analysts Reduce Earnings Estimates for Corporate Office Properties Trust (OFC)

Corporate Office Properties Trust (NYSE:OFC) – SunTrust Banks reduced their Q4 2017 earnings per share (EPS) estimates for Corporate Office Properties Trust in a research note issued on Monday. SunTrust Banks analyst M. Lewis now forecasts that the real estate investment trust will post earnings of $0.53 per share for the quarter, down from their prior estimate of $0.54. SunTrust Banks currently has a “Hold” rating and a $34.00 target price on the stock. SunTrust Banks also issued estimates for Corporate Office Properties Trust’s FY2018 earnings at $2.01 EPS, FY2019 earnings at $2.09 EPS, FY2020 earnings at $2.14 EPS and FY2021 earnings at $2.22 EPS.

Corporate Office Properties Trust (NYSE:OFC) last posted its earnings results on Thursday, October 26th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.01. Corporate Office Properties Trust had a net margin of 14.38% and a return on equity of 5.89%. The business had revenue of $157.00 million for the quarter, compared to analysts’ expectations of $142.74 million. During the same period in the prior year, the company posted $0.51 EPS. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year.

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OFC has been the topic of several other reports. Zacks Investment Research upgraded shares of Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a research note on Thursday, September 28th. BidaskClub upgraded shares of Corporate Office Properties Trust from a “strong sell” rating to a “sell” rating in a research report on Friday, August 11th. ValuEngine upgraded shares of Corporate Office Properties Trust from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Mizuho restated a “hold” rating on shares of Corporate Office Properties Trust in a research report on Wednesday, November 1st. Finally, KeyCorp restated a “hold” rating on shares of Corporate Office Properties Trust in a research report on Friday, August 25th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $34.57.

Shares of Corporate Office Properties Trust (NYSE OFC) opened at $31.01 on Wednesday. Corporate Office Properties Trust has a 52 week low of $28.08 and a 52 week high of $36.03. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 1.34. The stock has a market cap of $3,074.93, a P/E ratio of 15.44 and a beta of 0.84.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date of this dividend is Thursday, December 28th. Corporate Office Properties Trust’s dividend payout ratio (DPR) is presently 159.42%.

A number of institutional investors have recently made changes to their positions in OFC. Bank of New York Mellon Corp grew its holdings in Corporate Office Properties Trust by 92.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,922,539 shares of the real estate investment trust’s stock worth $95,948,000 after acquiring an additional 1,403,775 shares during the last quarter. FMR LLC grew its holdings in Corporate Office Properties Trust by 22.0% in the 2nd quarter. FMR LLC now owns 6,980,510 shares of the real estate investment trust’s stock worth $244,526,000 after acquiring an additional 1,259,741 shares during the last quarter. Cohen & Steers Inc. grew its holdings in Corporate Office Properties Trust by 8.8% in the 3rd quarter. Cohen & Steers Inc. now owns 10,607,729 shares of the real estate investment trust’s stock worth $348,252,000 after acquiring an additional 860,162 shares during the last quarter. American Century Companies Inc. grew its holdings in Corporate Office Properties Trust by 253.8% in the 2nd quarter. American Century Companies Inc. now owns 851,262 shares of the real estate investment trust’s stock worth $29,820,000 after acquiring an additional 610,641 shares during the last quarter. Finally, Cramer Rosenthal Mcglynn LLC grew its holdings in Corporate Office Properties Trust by 52.3% in the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 1,629,058 shares of the real estate investment trust’s stock worth $53,482,000 after acquiring an additional 559,715 shares during the last quarter.

Corporate Office Properties Trust Company Profile

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.

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

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