Zacks Investment Research Downgrades Corporate Office Properties Trust (NYSE:OFC) to Hold

Corporate Office Properties Trust (NYSE:OFC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, October 19th.

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. “

OFC has been the subject of a number of other research reports. Mizuho lowered Corporate Office Properties Trust from a “buy” rating to a “neutral” rating and set a $38.00 price objective for the company. in a research note on Monday, July 10th. BidaskClub upgraded Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. KeyCorp reiterated a “hold” rating on shares of Corporate Office Properties Trust in a research note on Friday, August 25th. ValuEngine upgraded Corporate Office Properties Trust from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Stifel Nicolaus lowered Corporate Office Properties Trust from a “hold” rating to a “sell” rating and reduced their price objective for the company from $33.00 to $29.00 in a research note on Tuesday, August 1st. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $34.57.

Shares of Corporate Office Properties Trust (NYSE:OFC) opened at 32.16 on Thursday. The company’s 50-day moving average price is $32.78 and its 200-day moving average price is $33.59. Corporate Office Properties Trust has a 52-week low of $24.92 and a 52-week high of $36.03. The stock has a market cap of $3.18 billion, a PE ratio of 44.12 and a beta of 0.81.

Corporate Office Properties Trust (NYSE:OFC) last issued its earnings results on Thursday, October 26th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.01. The company had revenue of $157.00 million during the quarter, compared to analyst estimates of $142.74 million. Corporate Office Properties Trust had a return on equity of 5.88% and a net margin of 14.38%. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the business posted $0.51 EPS. On average, equities research analysts forecast that Corporate Office Properties Trust will post $0.75 earnings per share for the current fiscal year.

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Several institutional investors have recently made changes to their positions in OFC. Legal & General Group Plc increased its stake in shares of Corporate Office Properties Trust by 17.8% in the 1st quarter. Legal & General Group Plc now owns 310,354 shares of the real estate investment trust’s stock valued at $10,272,000 after purchasing an additional 46,981 shares in the last quarter. Utah Retirement Systems increased its stake in shares of Corporate Office Properties Trust by 0.4% in the 1st quarter. Utah Retirement Systems now owns 24,547 shares of the real estate investment trust’s stock valued at $812,000 after purchasing an additional 100 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Corporate Office Properties Trust by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 15,297,994 shares of the real estate investment trust’s stock valued at $506,363,000 after purchasing an additional 729,574 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Corporate Office Properties Trust by 16.0% in the 1st quarter. Geode Capital Management LLC now owns 941,358 shares of the real estate investment trust’s stock valued at $31,158,000 after purchasing an additional 129,649 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Corporate Office Properties Trust by 4.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,330,411 shares of the real estate investment trust’s stock valued at $44,035,000 after purchasing an additional 52,990 shares in the last quarter.

About Corporate Office Properties Trust

Corporate Office Properties Trust is a fully-integrated and self-managed real estate investment trust (REIT). The Company owns, manages, leases, develops and acquires office and data center properties. The Company’s segments are Defense/IT Locations; Regional Office; operating wholesale data center, and other.

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