Corporate Office Properties Trust (NYSE:OFC) issued its earnings results on Thursday. The real estate investment trust reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.29), MarketWatch Earnings reports. Corporate Office Properties Trust had a net margin of 18.34% and a return on equity of 6.58%. The firm had revenue of $144.77 million during the quarter, compared to analysts’ expectations of $146.18 million.
Shares of NYSE OFC traded up $0.13 during midday trading on Friday, reaching $26.48. 939,234 shares of the company traded hands, compared to its average volume of 431,996. The firm has a market cap of $2.97 billion, a PE ratio of 26.75, a PEG ratio of 2.91 and a beta of 1.03. The stock’s 50-day simple moving average is $25.44 and its 200-day simple moving average is $25.81. Corporate Office Properties Trust has a 12 month low of $15.23 and a 12 month high of $30.57. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.73 and a current ratio of 2.73.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.275 per share. The ex-dividend date was Monday, June 29th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.15%. Corporate Office Properties Trust’s payout ratio is presently 54.19%.
OFC has been the subject of a number of analyst reports. Mizuho reduced their price target on Corporate Office Properties Trust from $32.00 to $26.00 and set a “neutral” rating for the company in a research report on Tuesday, April 28th. Bank of America raised Corporate Office Properties Trust from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $23.00 to $29.00 in a research report on Monday, April 6th. SunTrust Banks boosted their price target on Corporate Office Properties Trust from $26.00 to $28.00 and gave the stock a “hold” rating in a research report on Monday, May 11th. Smith Barney Citigroup raised Corporate Office Properties Trust from a “neutral” rating to an “outperform” rating and set a $29.00 price target for the company in a research report on Monday, May 4th. Finally, JPMorgan Chase & Co. raised Corporate Office Properties Trust from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $26.00 to $29.00 in a research report on Thursday, July 2nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $28.23.
About Corporate Office Properties Trust
COPT is a REIT that owns, manages, leases, develops and selectively acquires office and data center properties in locations that support the United States Government and its contractors, most of whom are engaged in national security, defense and information technology (IT) related activities servicing what it believes are growing, durable, priority missions (Defense/IT Locations).
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