Join        Login             Stock Quote

Corporate Office Properties (OFC) Lifts Q4 Earnings View; Guides Q1 In Line

 January 15, 2013 09:37 AM

(By Balaseshan) Corporate Office Properties Trust (NYSE: OFC) increased its fourth-quarter guidance reflecting a one-time gain on the sale of its remaining interest in a non-real estate investment. Further, the company guided first quarter and full year 2013 in line with market expectations.

For the fourth quarter, the company lifted funds from operations (FFO) per share guidance to range of $0.49 to $0.51 from previous forecast of $0.45 to $0.48. Analysts at Thomson Reuters predict profit of $0.46 per share.

OFC also raised earnings per share (EPS) outlook to range of $0.16 to $0.21 from prior estimate of $0.05 to $0.08.

[Related -A Great Opportunity To Buy These Dividend Stocks For The Long-Haul]

For the first quarter of 2013, the company projects FFO per share of $0.44 to $0.46 and EPS of $0.10 to $0.11, while analysts predict $0.46 per share.

For the full year 2013, the company anticipates FFO per share of $1.83 to $1.93 and EPS of $0.46 to $0.53, while analysts predict $1.87 per share.

Major assumptions underpinning 2013 forecast include the disposition of $160 million of assets remaining to be sold in order to conclude OFC's Strategic Reallocation Plan and 0%-2% growth in same-office net operating income.

For the previous third quarter, the company reported a loss of $28.26 million or $0.39 per share, compared to a profit of $2.28 million or $0.03 per share last year. FFO per share rose to $0.53 from $0.52. Revenue rose to $130.14 million from $126.71 million.

[Related -Analysts' Upgrades & Downgrades: EIX, ADI, OMX, CRM, X, CEPH, LLTC, NOR, JDSU, OFC]

OFC closed Monday's regular session up 1.20% at $25.30. The stock has been trading between $21.13 and $26.12 for the past 52 weeks.

iOnTheMarket Premium


Post Comment -- Login is required to post message
Alert for new comments:
Your email:
Your Website:

rss feed

Latest Stories

article imageWatch This Alternative Investment for a Buy Signal

All major U.S. indices closed essentially unchanged last week except for the small-cap Russell 2000. While read on...

article imageUS REITs Edged Higher Last Week As Emerging Markets Slumped

Real estate investment trusts (REITs) in the US took the lead in last week’s shortened holiday trading week read on...

article imageA Contrarian Perspective On The Short EuroTtrade

As the euro continues to drift lower, it has become the accepted wisdom that we are headed for parity with read on...

article imageEmerging-Markets Stocks Took The Lead Last Week

Emerging-markets equities enjoyed a solid rise last week among the major asset classes, based on a set of read on...

Popular Articles

Daily Sector Scan
Partner Center

Related Articles:

Stocks In Focus: ARTG, WPI, OFC, CFS
More Articles on: Finance

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.