Head Office Properties Trust (NYSE: OFC – Get a rating) – Capital One Financial raised its earnings per share (EPS) estimates for fiscal 2022 for shares of Corporate Office Properties Trust in a note to investors on Monday, May 2. Capital One Financial analyst C. Lucas now expects the real estate investment trust to post earnings per share of $2.34 for the year, up from its previous forecast of 2. $33. Capital One Financial currently has an “overweight” rating on the stock. Capital One Financial also released estimates for Corporate Office Properties Trust Q4 2022 earnings at $0.61 EPS, Q2 2023 earnings at $0.63 EPS, Q3 2023 earnings at $0.61 EPS, Q4 2023 earnings at $0.63 EPS, fiscal year 2023 earnings at $2.46 EPS, and fiscal year 2025 earnings at $2.60 EPS.
Several other research analysts have also recently released reports on the stock. KeyCorp downgraded Corporate Office Properties Trust shares from a “sector weight” rating to an “underweight” rating and set a price target of $24.00 for the stock. in a research report on Thursday, January 13. StockNews.com launched coverage on Corporate Office Properties Trust in a report on Thursday, March 31. They have placed a “holding” rating on the stock. Jefferies Financial Group upgraded Corporate Office Properties Trust from a “buy” rating to a “hold” rating and lowered its price target for the stock from $34.00 to $30.00 in a research report from the Monday January 10. To finish, Zacks Investment Research upgraded Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a Friday, February 18 report. One financial analyst gave the stock a sell rating, three gave the company a hold rating and two gave the company a buy rating. According to data from MarketBeat.com, Corporate Office Properties Trust currently has a consensus rating of “Hold” and an average price target of $28.50.
New York stock market opened at $26.78 on Wednesday. The company has a market capitalization of $3.01 billion, a P/E ratio of 21.25, a PEG ratio of 2.17 and a beta of 0.95. Corporate Office Properties Trust has a 1 year minimum of $23.89 and a 1 year maximum of $30.51. The company has a fifty-day moving average of $27.75. The company has a quick ratio of 1.32, a current ratio of 1.79 and a debt ratio of 1.28.
Head Office Properties Trust (NYSE: OFC – Get a rating) last reported quarterly earnings data on Thursday, April 28. The real estate investment trust reported EPS of $0.52 for the quarter, missing the Zacks consensus estimate of $0.56 per ($0.04). Corporate Office Properties Trust recorded a return on equity of 6.67% and a net margin of 19.78%. The company posted revenue of $195.48 million for the quarter, versus analyst estimates of $168.33 million. In the same period a year earlier, the company posted earnings per share of $0.56. The company’s quarterly revenue increased by 26.6% compared to the same quarter last year.
A number of hedge funds have recently changed their OFC holdings. abrdn plc increased its stake in shares of Corporate Office Properties Trust by 3.2% in the first quarter. abrdn plc now owns 25,064 shares of the real estate investment trust worth $727,000 after buying an additional 787 shares in the last quarter. Fort Washington Investment Advisors Inc. OH increased its position in Corporate Office Properties Trust by 0.6% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 1,188,733 shares of the real estate investment trust worth $33,926,000 after acquiring an additional 6,532 shares during the period. Mutual of America Capital Management LLC increased its stake in Corporate Office Properties Trust by 2.0% in the 1st quarter. Mutual of America Capital Management LLC now owns 102,439 shares of the real estate investment trust valued at $2,924,000 after purchasing an additional 1,966 shares during the period. SG Americas Securities LLC increased its equity stake in Corporate Office Properties Trust by 225.8% during the first quarter. SG Americas Securities LLC now owns 81,998 shares of the real estate investment trust worth $2,340,000 after acquiring an additional 56,832 shares in the last quarter. Finally, CM Bidwell & Associates Ltd. bought a new equity stake in Corporate Office Properties Trust in Q1 valued at approximately $184,000.
In other news from the Corporate Office Properties Trust, CAO Greg J. Thor sold 2,333 shares in a trade dated Monday, March 28. The shares were sold at an average price of $28.79, for a total value of $67,167.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available via the SEC website. Additionally, Director C Taylor Pickett acquired 20,000 shares of the company in a transaction that took place on Thursday, February 24. The shares were acquired at an average price of $24.97 per share, for a total transaction of $499,400.00. Disclosure of this purchase can be found here. 0.85% of the shares are currently held by insiders.
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 15. Investors of record on Thursday, March 31 received a dividend of $0.275. The ex-dividend date was Wednesday, March 30. This represents a dividend of $1.10 on an annualized basis and a yield of 4.11%. Corporate Office Properties Trust’s payout ratio is currently 87.30%.
About Corporate Office Properties Trust (Get a rating)
COPT is a REIT that selectively owns, manages, leases, develops and 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 which are engaged in national security, defense, and information technology (IT) activities. ) in the service of what it considers to be growing and sustainable priority missions (Defence/ IT sites).
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