Corporate Office Properties Trust (NYSE:OFC) Updates Q3 2020 After-Hours Earnings Guidance

Corporate Office Properties Trust (NYSE:OFC) issued an update on its third quarter 2020
After-Hours earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.51-0.53 for the period. Corporate Office Properties Trust also updated its FY 2020
After-Hours guidance to 2.05-2.09 EPS.

Corporate Office Properties Trust stock opened at $26.48 on Friday. The stock has a market cap of $2.97 billion, a P/E ratio of 26.75, a P/E/G ratio of 2.91 and a beta of 1.03. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 1.26. Corporate Office Properties Trust has a twelve month low of $15.23 and a twelve month high of $30.57. The company’s 50-day moving average price is $25.44 and its two-hundred day moving average price is $25.81.

Corporate Office Properties Trust (NYSE:OFC) last released its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.29). The company had revenue of $144.77 million during the quarter, compared to the consensus estimate of $146.18 million. Corporate Office Properties Trust had a net margin of 18.34% and a return on equity of 6.58%. Equities analysts anticipate that Corporate Office Properties Trust will post 2.06 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.275 dividend. The ex-dividend date was Monday, June 29th. This represents a $1.10 annualized dividend and a yield of 4.15%. Corporate Office Properties Trust’s dividend payout ratio is currently 54.19%.

OFC has been the topic of several recent research reports. Bank of America raised shares of Corporate Office Properties Trust from a neutral rating to a buy rating and raised their target price for the stock from $23.00 to $29.00 in a report on Monday, April 6th. Robert W. Baird raised their target price on shares of Corporate Office Properties Trust from $24.00 to $28.00 and gave the stock an outperform rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. raised shares of Corporate Office Properties Trust from a neutral rating to an overweight rating and raised their target price for the stock from $26.00 to $29.00 in a report on Thursday, July 2nd. Zacks Investment Research cut shares of Corporate Office Properties Trust from a buy rating to a hold rating in a report on Friday, July 17th. Finally, Citigroup raised their target price on shares of Corporate Office Properties Trust from $23.00 to $24.00 and gave the stock a neutral rating in a report on Thursday, May 28th. 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. Corporate Office Properties Trust currently has an average rating of Hold and an average target price 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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Earnings History and Estimates for Corporate Office Properties Trust (NYSE:OFC)

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