Corporate Office Properties Trust (OFC) Releases Earnings Results, Beats Expectations By $0.02 EPS

Corporate Office Properties Trust (OFC) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $0.52 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.50. The company posted revenue of $145.93 million in the period, compared to analysts expectations of $163.74 million. The company’s revenue was down -14.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS.

Corporate Office Properties Trust opened for trading at $29.03 and hit $29.76 on the upside on Thursday, eventually ending the session at $29.63, with a gain of 2.07% or 0.6 points. The heightened volatility saw the trading volume jump to 7,40,512 shares. Company has a market cap of $2,804 M.

In a different news, on Jun 9, 2016, Greg J Thor (SVP–CAO & Controller) sold 2,085 shares at $27.56 per share price. According to the SEC, on Jun 2, 2016, David M Jacobstein (director) sold 1,500 shares at $26.99 per share price. On May 10, 2016, Robert L Denton (director) sold 3,007 shares at $26.80 per share price, according to the Form-4 filing with the securities and exchange commission.

Corporate Office Properties Trust (COPT) is an integrated self-managed real estate investment trust (REIT). Corporate Office Properties L.P. (COPLP) and subsidiaries (collectively the Operating Partnership) is the entity through which COPT the sole general partner of COPLP conducts all of its operations and owns almost all of its assets. The Company has 10 reportable operating office property segments (comprising the Baltimore/Washington Corridor; Northern Virginia; San Antonio; Huntsville; Washington DC – Capitol Riverfront; St. Mary’s and King George Counties; Greater Baltimore; Greater Philadelphia; Colorado Springs; and Other). It also has an operating wholesale data center segment. The Company operates in two industries: commercial office properties and wholesale data center. The Company acquires develop manage and lease office and data center properties concentrated in office parks located in the Greater Washington DC/Baltimore region.

Corporate Office Properties Trust

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