Corporate Office Properties Trust (OFC) Upgraded by Zacks Investment Research to Hold
According to Zacks, “Corporate Office Properties Trust is a fully-integrated and self-managed real estate investment trust that focuses principally on the ownership, management, leasing, acquisition and development of suburban office buildings located in select submarkets in the Mid-Atlantic region of the United States. Corporate Office Properties operates three real estate service companies: Corporate Development Services, Corporate Office Services and Corporate Management Services. “
A number of other research firms also recently issued reports on OFC. Evercore ISI downgraded shares of Corporate Office Properties Trust from a hold rating to an underperform rating in a report on Friday, March 3rd. Jefferies Group LLC lifted their price objective on shares of Corporate Office Properties Trust from $32.00 to $33.00 and gave the stock a hold rating in a report on Tuesday, February 21st. Mizuho lifted their price objective on shares of Corporate Office Properties Trust from $34.00 to $38.00 and gave the stock a buy rating in a report on Monday, February 13th. Robert W. Baird downgraded shares of Corporate Office Properties Trust from an outperform rating to a neutral rating and lifted their price objective for the stock from $32.00 to $33.00 in a report on Wednesday, February 15th. Finally, SunTrust Banks, Inc. downgraded shares of Corporate Office Properties Trust from a buy rating to a hold rating and set a $32.00 price objective for the company. in a report on Thursday, January 19th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $31.33.
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Shares of Corporate Office Properties Trust (NYSE:OFC) opened at 33.85 on Wednesday. Corporate Office Properties Trust has a 12 month low of $24.92 and a 12 month high of $34.25. The company’s market cap is $3.32 billion. The firm’s 50-day moving average is $33.04 and its 200-day moving average is $29.92.
Corporate Office Properties Trust (NYSE:OFC) last posted its quarterly earnings data on Thursday, February 9th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.29. Corporate Office Properties Trust had a net margin of 1.99% and a return on equity of 0.85%. The company earned $141.99 million during the quarter, compared to the consensus estimate of $128.02 million. During the same period in the previous year, the firm posted $0.52 EPS. The firm’s revenue was down .9% compared to the same quarter last year. On average, equities research analysts predict that Corporate Office Properties Trust will post $0.80 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Monday, April 17th. Investors of record on Friday, March 31st will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend is Wednesday, March 29th. Corporate Office Properties Trust’s payout ratio is presently -2,749.31%.
In related news, CAO Greg J. Thor sold 3,555 shares of Corporate Office Properties Trust stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $34.02, for a total value of $120,941.10. Following the transaction, the chief accounting officer now owns 14,853 shares in the company, valued at approximately $505,299.06. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.00% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in OFC. Sterling Capital Management LLC purchased a new position in Corporate Office Properties Trust during the second quarter worth about $1,922,000. Oregon Public Employees Retirement Fund boosted its position in Corporate Office Properties Trust by 4.3% in the third quarter. Oregon Public Employees Retirement Fund now owns 32,757 shares of the real estate investment trust’s stock worth $929,000 after buying an additional 1,352 shares during the last quarter. Fisher Asset Management LLC boosted its position in Corporate Office Properties Trust by 2.7% in the third quarter. Fisher Asset Management LLC now owns 674,159 shares of the real estate investment trust’s stock worth $19,112,000 after buying an additional 17,462 shares during the last quarter. Pensionfund DSM Netherlands boosted its position in Corporate Office Properties Trust by 48.5% in the third quarter. Pensionfund DSM Netherlands now owns 49,000 shares of the real estate investment trust’s stock worth $1,389,000 after buying an additional 16,000 shares during the last quarter. Finally, Pensionfund Sabic boosted its position in Corporate Office Properties Trust by 54.2% in the third quarter. Pensionfund Sabic now owns 18,500 shares of the real estate investment trust’s stock worth $524,000 after buying an additional 6,500 shares during the last quarter. Hedge funds and other institutional investors own 97.98% of the company’s stock.
About Corporate Office Properties Trust
Corporate Office Properties Trust (COPT) is a self-managed real estate investment trust. The Company owns, manages, leases, develops and acquires office and data center properties. Its segments include Defense/Information Technology (IT) Locations; Regional Office; Operating Wholesale Data Center, and Other.
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