SunTrust Banks Reiterates “$29.00” Price Target for Corporate Office Properties Trust (NYSE:OFC)

SunTrust Banks set a $29.00 price objective on Corporate Office Properties Trust (NYSE:OFC) in a report released on Friday, February 9th. The brokerage currently has a hold rating on the real estate investment trust’s stock.

Several other research firms have also recently issued reports on OFC. Zacks Investment Research upgraded shares of Corporate Office Properties Trust from a hold rating to a buy rating and set a $37.00 target price on the stock in a research note on Wednesday, October 18th. TheStreet upgraded shares of Corporate Office Properties Trust from a c rating to a b- rating in a research note on Thursday, October 26th. Mizuho reiterated a hold rating on shares of Corporate Office Properties Trust in a research note on Wednesday, November 1st. Evercore ISI raised shares of Corporate Office Properties Trust from an in-line rating to an outperform rating in a report on Monday, December 4th. Finally, Bank of America lowered shares of Corporate Office Properties Trust from a buy rating to a neutral rating in a report on Monday, December 4th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. Corporate Office Properties Trust has an average rating of Hold and an average price target of $31.29.

Shares of Corporate Office Properties Trust (NYSE:OFC) traded up $0.26 during trading on Friday, reaching $25.92. 1,534,053 shares of the company’s stock were exchanged, compared to its average volume of 1,024,140. The stock has a market cap of $2,548.14, a P/E ratio of 45.47 and a beta of 0.68. The company has a current ratio of 1.81, a quick ratio of 1.53 and a debt-to-equity ratio of 1.27. Corporate Office Properties Trust has a fifty-two week low of $24.78 and a fifty-two week high of $36.03.

Corporate Office Properties Trust (NYSE:OFC) last released its earnings results on Thursday, February 8th. The real estate investment trust reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.43). Corporate Office Properties Trust had a return on equity of 4.82% and a net margin of 11.44%. The business had revenue of $164.57 million during the quarter, compared to analysts’ expectations of $143.44 million. During the same period in the prior year, the company earned $0.51 earnings per share. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. sell-side analysts expect that Corporate Office Properties Trust will post 2.02 EPS for the current fiscal year.

In related news, Director Lisa G. Trimberger bought 3,000 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were bought at an average price of $30.39 per share, for a total transaction of $91,170.00. Following the completion of the purchase, the director now directly owns 1,464 shares of the company’s stock, valued at $44,490.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert L. Denton sold 8,500 shares of Corporate Office Properties Trust stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $25.98, for a total value of $220,830.00. Following the completion of the transaction, the director now owns 2,508 shares in the company, valued at approximately $65,157.84. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 16,000 shares of company stock valued at $457,970. Corporate insiders own 0.60% of the company’s stock.

Several hedge funds have recently modified their holdings of OFC. Bank of New York Mellon Corp grew its stake in shares of Corporate Office Properties Trust by 58.7% during the fourth quarter. Bank of New York Mellon Corp now owns 4,637,510 shares of the real estate investment trust’s stock worth $135,415,000 after acquiring an additional 1,714,971 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Corporate Office Properties Trust by 814.4% during the fourth quarter. Millennium Management LLC now owns 1,803,615 shares of the real estate investment trust’s stock worth $52,666,000 after purchasing an additional 1,606,372 shares during the period. AMP Capital Investors Ltd lifted its holdings in shares of Corporate Office Properties Trust by 140.3% during the fourth quarter. AMP Capital Investors Ltd now owns 1,807,412 shares of the real estate investment trust’s stock worth $52,777,000 after purchasing an additional 1,055,125 shares during the period. Cohen & Steers Inc. lifted its holdings in shares of Corporate Office Properties Trust by 8.8% during the third quarter. Cohen & Steers Inc. now owns 10,607,729 shares of the real estate investment trust’s stock worth $348,252,000 after purchasing an additional 860,162 shares during the period. Finally, BlackRock Inc. lifted its holdings in shares of Corporate Office Properties Trust by 5.6% during the fourth quarter. BlackRock Inc. now owns 11,314,176 shares of the real estate investment trust’s stock worth $330,375,000 after purchasing an additional 604,417 shares during the period.

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Corporate Office Properties Trust Company Profile

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.

Analyst Recommendations for Corporate Office Properties Trust (NYSE:OFC)

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