Brokerages Set Corporate Office Properties Trust (OFC) Target Price at $27.40

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Corporate Office Properties Trust (NYSE:OFC) has been assigned a consensus recommendation of “Hold” from the twelve research firms that are presently covering the company, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $27.40.

Several research analysts have recently issued reports on the company. ValuEngine downgraded Corporate Office Properties Trust from a “hold” rating to a “sell” rating in a research note on Friday, November 16th. Robert W. Baird raised Corporate Office Properties Trust from a “neutral” rating to an “outperform” rating in a research note on Tuesday, January 8th. Stifel Nicolaus raised Corporate Office Properties Trust from a “sell” rating to a “hold” rating and set a $22.00 price target for the company in a research note on Thursday, January 3rd. Bank of America cut their price target on Corporate Office Properties Trust from $34.00 to $31.00 and set a “buy” rating for the company in a research note on Monday, October 29th. Finally, JPMorgan Chase & Co. raised Corporate Office Properties Trust from a “neutral” rating to an “overweight” rating in a research note on Wednesday, December 19th.

In other news, CEO Stephen E. Budorick bought 2,070 shares of the business’s stock in a transaction that occurred on Thursday, December 6th. The stock was purchased at an average price of $24.14 per share, with a total value of $49,969.80. Following the purchase, the chief executive officer now owns 112,598 shares of the company’s stock, valued at approximately $2,718,115.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Stephen E. Budorick bought 1,206 shares of the business’s stock in a transaction that occurred on Monday, December 31st. The stock was purchased at an average cost of $20.74 per share, with a total value of $25,012.44. The disclosure for this purchase can be found here. Insiders purchased a total of 17,853 shares of company stock valued at $411,043 in the last three months. 0.60% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the stock. State of Alaska Department of Revenue raised its stake in Corporate Office Properties Trust by 1.9% in the 4th quarter. State of Alaska Department of Revenue now owns 44,829 shares of the real estate investment trust’s stock valued at $941,000 after purchasing an additional 829 shares during the last quarter. Retirement Systems of Alabama increased its stake in shares of Corporate Office Properties Trust by 5.8% during the 4th quarter. Retirement Systems of Alabama now owns 141,138 shares of the real estate investment trust’s stock valued at $2,968,000 after acquiring an additional 7,690 shares during the last quarter. Pensionfund DSM Netherlands increased its stake in shares of Corporate Office Properties Trust by 55.7% during the 4th quarter. Pensionfund DSM Netherlands now owns 95,000 shares of the real estate investment trust’s stock valued at $1,998,000 after acquiring an additional 34,000 shares during the last quarter. Pensionfund Sabic increased its stake in shares of Corporate Office Properties Trust by 58.8% during the 4th quarter. Pensionfund Sabic now owns 40,500 shares of the real estate investment trust’s stock valued at $852,000 after acquiring an additional 15,000 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Corporate Office Properties Trust by 0.3% during the 3rd quarter. Legal & General Group Plc now owns 445,401 shares of the real estate investment trust’s stock valued at $13,287,000 after acquiring an additional 1,388 shares during the last quarter. 96.74% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE OFC opened at $23.64 on Friday. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 11.65, a P/E/G ratio of 2.48 and a beta of 0.86. Corporate Office Properties Trust has a one year low of $20.03 and a one year high of $31.01. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.92 and a current ratio of 1.92.

Corporate Office Properties Trust (NYSE:OFC) last released its quarterly earnings results on Thursday, October 25th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. The business had revenue of $137.41 million during the quarter, compared to the consensus estimate of $129.45 million. Corporate Office Properties Trust had a return on equity of 4.30% and a net margin of 10.78%. Analysts forecast that Corporate Office Properties Trust will post 2.01 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 31st will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 4.65%. The ex-dividend date of this dividend is Friday, December 28th. Corporate Office Properties Trust’s payout ratio is 54.19%.

About Corporate Office Properties Trust

Corporate Office Properties Trust, Inc is a real estate investment trust. It acquires, develops, manages, sells, and leases out office properties. The firm operates through the following segments: Defense/Information Technology Locations, Regional Office, Wholesale Data Center, and Other. The company was founded in 1988 and is headquartered in Columbia, MD.

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