Corporate Office Properties Trust (NYSE:OFC) to Issue $0.28 Quarterly Dividend

Corporate Office Properties Trust (NYSE:OFC) announced a quarterly dividend on Friday, May 22nd, Wall Street Journal reports. Investors of record on Tuesday, June 30th will be given a dividend of 0.275 per share by the real estate investment trust on Wednesday, July 15th. This represents a $1.10 annualized dividend and a yield of 4.46%. The ex-dividend date of this dividend is Monday, June 29th.

Corporate Office Properties Trust has raised its dividend by an average of 48.7% per year over the last three years. Corporate Office Properties Trust has a payout ratio of 125.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Corporate Office Properties Trust to earn $2.16 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 50.9%.

Shares of Corporate Office Properties Trust stock opened at $24.66 on Friday. Corporate Office Properties Trust has a 12-month low of $15.23 and a 12-month high of $30.57. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 1.26. The stock has a 50 day moving average price of $24.87 and a two-hundred day moving average price of $26.46. The stock has a market capitalization of $2.77 billion, a P/E ratio of 12.09, a PEG ratio of 2.73 and a beta of 1.04.

Corporate Office Properties Trust (NYSE:OFC) last issued its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.02. Corporate Office Properties Trust had a net margin of 30.96% and a return on equity of 11.62%. The business had revenue of $145.80 million during the quarter, compared to analysts’ expectations of $151.88 million. During the same period in the previous year, the company earned $0.50 earnings per share. Corporate Office Properties Trust’s revenue for the quarter was down 2.1% on a year-over-year basis. Sell-side analysts anticipate that Corporate Office Properties Trust will post 2.05 earnings per share for the current year.

A number of equities research analysts have issued reports on OFC shares. JPMorgan Chase & Co. decreased their price target on shares of Corporate Office Properties Trust from $30.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, April 15th. Mizuho decreased their target price on Corporate Office Properties Trust from $32.00 to $26.00 and set a “neutral” rating for the company in a research note on Tuesday, April 28th. Jefferies Financial Group dropped their price target on Corporate Office Properties Trust from $32.00 to $29.00 and set a “buy” rating on the stock in a research report on Thursday, April 16th. Stifel Nicolaus cut their price target on Corporate Office Properties Trust from $30.00 to $23.00 and set a “hold” rating for the company in a report on Friday, April 3rd. Finally, Bank of America raised Corporate Office Properties Trust from a “neutral” rating to a “buy” rating and increased their price objective for the company from $23.00 to $29.00 in a research report on Monday, April 6th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. Corporate Office Properties Trust currently has a consensus rating of “Hold” and a consensus target price of $27.92.

Corporate Office Properties Trust Company Profile

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”).

Featured Article: What are the components of an earnings report?

Dividend History for Corporate Office Properties Trust (NYSE:OFC)

Receive News & Ratings for Corporate Office Properties Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corporate Office Properties Trust and related companies with MarketBeat.com's FREE daily email newsletter.