Jefferies Financial Group Weighs in on Corporate Office Properties Trust’s Q2 2021 Earnings (NYSE:OFC)


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Corporate Office Properties Trust (NYSE:OFC) – Stock analysts at Jefferies Financial Group lifted their Q2 2021 earnings estimates for shares of Corporate Office Properties Trust in a research note issued to investors on Friday, April 16th. Jefferies Financial Group analyst P. Abramowitz now anticipates that the real estate investment trust will post earnings of $0.56 per share for the quarter, up from their previous estimate of $0.55. Jefferies Financial Group also issued estimates for Corporate Office Properties Trust’s Q4 2021 earnings at $0.56 EPS, FY2021 earnings at $2.22 EPS, Q2 2022 earnings at $0.59 EPS, Q3 2022 earnings at $0.60 EPS, Q4 2022 earnings at $0.60 EPS, FY2022 earnings at $2.37 EPS, Q1 2023 earnings at $0.62 EPS and FY2023 earnings at $2.48 EPS.

A number of other research firms have also weighed in on OFC. Truist raised Corporate Office Properties Trust from a “hold” rating to a “buy” rating in a report on Monday, March 15th. Mizuho upgraded Corporate Office Properties Trust from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $27.00 to $30.00 in a report on Monday, January 11th. Finally, Truist Securities raised Corporate Office Properties Trust from a “hold” rating to a “buy” rating and upped their price objective for the company from $30.00 to $32.00 in a report on Monday, March 22nd. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $28.91.

Shares of OFC opened at $27.98 on Monday. Corporate Office Properties Trust has a 1-year low of $20.93 and a 1-year high of $28.50. The company has a market cap of $3.14 billion, a price-to-earnings ratio of 54.86, a PEG ratio of 2.45 and a beta of 1.00. The company’s fifty day simple moving average is $27.03 and its 200 day simple moving average is $25.98. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.32.

Corporate Office Properties Trust (NYSE:OFC) last issued its quarterly earnings results on Wednesday, February 3rd. The real estate investment trust reported $0.52 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.02). Corporate Office Properties Trust had a net margin of 9.67% and a return on equity of 3.49%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp raised its position in shares of Corporate Office Properties Trust by 23.5% during the third quarter. Van ECK Associates Corp now owns 3,405 shares of the real estate investment trust’s stock worth $81,000 after acquiring an additional 647 shares during the last quarter. Integrated Investment Consultants LLC raised its holdings in Corporate Office Properties Trust by 5.6% during the 1st quarter. Integrated Investment Consultants LLC now owns 12,152 shares of the real estate investment trust’s stock worth $320,000 after purchasing an additional 647 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its position in shares of Corporate Office Properties Trust by 9.9% during the third quarter. Mercer Global Advisors Inc. ADV now owns 8,808 shares of the real estate investment trust’s stock worth $209,000 after buying an additional 795 shares during the period. ProShare Advisors LLC lifted its holdings in Corporate Office Properties Trust by 4.8% in the fourth quarter. ProShare Advisors LLC now owns 22,500 shares of the real estate investment trust’s stock valued at $587,000 after buying an additional 1,031 shares during the period. Finally, Lazard Asset Management LLC bought a new position in shares of Corporate Office Properties Trust in the 4th quarter worth about $28,000. Hedge funds and other institutional investors own 98.41% of the company’s stock.

In related news, CAO Greg J. Thor sold 3,880 shares of Corporate Office Properties Trust stock in a transaction that occurred on Tuesday, March 16th. The shares were sold at an average price of $28.01, for a total transaction of $108,678.80. Also, Director Robert L. Denton sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, March 11th. The shares were sold at an average price of $27.06, for a total transaction of $40,590.00. Following the completion of the transaction, the director now owns 3,986 shares of the company’s stock, valued at $107,861.16. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by corporate insiders.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 15th. Investors of record on Wednesday, March 31st were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.93%. The ex-dividend date was Tuesday, March 30th. Corporate Office Properties Trust’s dividend payout ratio (DPR) is presently 54.19%.

About Corporate Office Properties Trust

COPT is a REIT that owns, manages, leases, develops and selectively acquires office and data center properties. The majority of its portfolio is in locations that support the United States Government and its contractors, most of whom are engaged in national security, defense and information technology (ÂITÂ) related activities servicing what it believes are growing, durable, priority missions (ÂDefense/IT LocationsÂ).

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

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