Corporate Office Properties Trust (OFC) Announces Quarterly Earnings Results, Misses Expectations By $0.43 EPS
Corporate Office Properties Trust (NYSE:OFC) posted its quarterly earnings results on Thursday. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.43), Yahoo Finance reports. Corporate Office Properties Trust had a net margin of 11.44% and a return on equity of 4.85%. The business had revenue of $164.57 million during the quarter, compared to analyst estimates of $143.44 million. During the same period in the previous year, the business posted $0.51 EPS. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. Corporate Office Properties Trust updated its Q1 guidance to $0.48-0.50 EPS and its FY18 guidance to $1.95-2.05 EPS.
Corporate Office Properties Trust (NYSE:OFC) traded up $0.63 on Friday, reaching $26.37. 1,687,116 shares of the company’s stock were exchanged, compared to its average volume of 795,519. 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 $2,563.94, a P/E ratio of 46.26 and a beta of 0.68. Corporate Office Properties Trust has a 1 year low of $25.09 and a 1 year high of $36.03.
Several analysts recently issued reports on OFC shares. Zacks Investment Research raised shares of Corporate Office Properties Trust from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research report on Wednesday, October 18th. SunTrust Banks reaffirmed a “hold” rating and set a $34.00 price objective on shares of Corporate Office Properties Trust in a report on Friday, October 27th. TheStreet raised shares of Corporate Office Properties Trust from a “c” rating to a “b-” rating in a report on Thursday, October 26th. Mizuho reaffirmed a “hold” rating on shares of Corporate Office Properties Trust in a report on Wednesday, November 1st. Finally, Bank of America downgraded shares of Corporate Office Properties Trust from a “buy” rating to a “neutral” rating in a report on Monday, December 4th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $32.14.
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About Corporate Office Properties Trust
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.
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