Zacks Investment Research upgraded shares of Corporate Office Properties Trust (NYSE:OFC) from a sell rating to a hold rating in a research note published on Wednesday.
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 brokerages also recently issued reports on OFC. Jefferies Group reiterated a buy rating and issued a $38.00 price objective on shares of Corporate Office Properties Trust in a research report on Wednesday, December 6th. ValuEngine downgraded Corporate Office Properties Trust from a buy rating to a hold rating in a research report on Friday, February 2nd. TheStreet downgraded Corporate Office Properties Trust from a b- rating to a c rating in a research report on Friday, February 9th. Robert W. Baird set a $28.00 price objective on Corporate Office Properties Trust and gave the stock a hold rating in a research report on Friday, February 9th. Finally, Mizuho set a $26.00 price objective on Corporate Office Properties Trust and gave the stock a hold rating in a research report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $30.71.
Shares of OFC stock opened at $26.79 on Wednesday. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 1.27. Corporate Office Properties Trust has a 52-week low of $24.55 and a 52-week high of $36.03. The firm has a market capitalization of $2,691.10, a P/E ratio of 13.20, a price-to-earnings-growth ratio of 7.74 and a beta of 0.68.
Corporate Office Properties Trust (NYSE:OFC) last issued its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $0.10 earnings per share (EPS) 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 quarter last year, the business posted $0.51 EPS. The company’s quarterly revenue was up 15.9% on a year-over-year basis. analysts predict that Corporate Office Properties Trust will post 2.01 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Friday, March 30th will be given a dividend of $0.275 per share. The ex-dividend date is Wednesday, March 28th. This represents a $1.10 dividend on an annualized basis and a yield of 4.11%. Corporate Office Properties Trust’s payout ratio is 54.19%.
In other news, CEO Stephen E. Budorick purchased 1,600 shares of the stock in a transaction on Tuesday, March 13th. The shares were acquired at an average price of $26.26 per share, for a total transaction of $42,016.00. Following the completion of the transaction, the chief executive officer now directly owns 103,242 shares of the company’s stock, valued at approximately $2,711,134.92. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert L. Denton sold 8,500 shares of the firm’s 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 sale, 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. Insiders have acquired 5,400 shares of company stock worth $138,944 in the last 90 days. Company insiders own 0.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OFC. Raymond James Financial Services Advisors Inc. purchased a new stake in Corporate Office Properties Trust during the fourth quarter valued at about $237,000. HBK Investments L P purchased a new position in shares of Corporate Office Properties Trust in the fourth quarter worth about $242,000. Xact Kapitalforvaltning AB purchased a new position in shares of Corporate Office Properties Trust in the fourth quarter worth about $256,000. ARP Americas LP purchased a new position in shares of Corporate Office Properties Trust in the fourth quarter worth about $266,000. Finally, Jane Street Group LLC purchased a new position in shares of Corporate Office Properties Trust in the fourth quarter worth about $293,000.
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Corporate Office Properties Trust Company Profile
COPT is an office REIT that owns, manages, leases, develops and selectively acquires office and data center properties in locations that support the United States Government and its contractors, most of whom are engaged in national security, defense and information technology (?IT?) related activities servicing what it believes are growing, durable, priority missions (?Defense/IT Locations?).
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