Corporate Office Properties Trust (OFC) Upgraded by ValuEngine to Hold

Corporate Office Properties Trust (NYSE:OFC) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

A number of other brokerages have also weighed in on OFC. Robert W. Baird reiterated a “hold” rating and set a $29.00 price objective on shares of Corporate Office Properties Trust in a report on Wednesday, August 8th. Wells Fargo & Co reiterated a “hold” rating on shares of Corporate Office Properties Trust in a report on Wednesday, August 15th. Finally, Bank of America decreased their price objective on shares of Corporate Office Properties Trust from $34.00 to $31.00 and set a “buy” rating for the company in a report on Monday, October 29th. One equities research analyst has rated the stock with a sell rating and eight have given a hold rating to the company. The company has an average rating of “Hold” and a consensus target price of $29.50.

OFC traded up $0.27 on Thursday, reaching $24.43. 874,464 shares of the company traded hands, compared to its average volume of 821,949. Corporate Office Properties Trust has a one year low of $23.54 and a one year high of $31.01. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of 12.03, a PEG ratio of 2.66 and a beta of 0.78. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.92 and a quick ratio of 1.92.

Corporate Office Properties Trust (NYSE:OFC) last announced its quarterly earnings data on Thursday, October 25th. The real estate investment trust reported $0.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.18. Corporate Office Properties Trust had a net margin of 10.78% and a return on equity of 4.30%. The company had revenue of $137.41 million during the quarter, compared to analyst estimates of $129.45 million. On average, equities analysts anticipate that Corporate Office Properties Trust will post 2.01 earnings per share for the current fiscal year.

In other Corporate Office Properties Trust news, CEO Stephen E. Budorick purchased 4,023 shares of Corporate Office Properties Trust stock in a transaction dated Monday, November 19th. The stock was acquired at an average price of $24.90 per share, for a total transaction of $100,172.70. Following the acquisition, the chief executive officer now owns 110,528 shares in the company, valued at approximately $2,752,147.20. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Stephen E. Budorick purchased 2,070 shares of Corporate Office Properties Trust stock in a transaction dated Thursday, December 6th. The stock was acquired at an average price of $24.14 per share, with a total value of $49,969.80. Following the acquisition, the chief executive officer now owns 112,598 shares in the company, valued at approximately $2,718,115.72. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 7,230 shares of company stock valued at $181,337. Company insiders own 0.60% of the company’s stock.

Large investors have recently bought and sold shares of the company. Qube Research & Technologies Ltd bought a new stake in shares of Corporate Office Properties Trust in the 2nd quarter valued at about $123,000. Private Advisor Group LLC bought a new position in shares of Corporate Office Properties Trust during the 3rd quarter worth approximately $210,000. Nissay Asset Management Corp Japan ADV bought a new position in shares of Corporate Office Properties Trust during the 3rd quarter worth approximately $211,000. NN Investment Partners Holdings N.V. bought a new position in shares of Corporate Office Properties Trust during the 3rd quarter worth approximately $234,000. Finally, Quantbot Technologies LP bought a new position in shares of Corporate Office Properties Trust during the 3rd quarter worth approximately $243,000. Institutional investors and hedge funds own 96.76% of the company’s stock.

About Corporate Office Properties Trust

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

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