Zacks Investment Research Lowers Corporate Office Properties Trust (NYSE:OFC) to Sell

Corporate Office Properties Trust (NYSE:OFC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, January 3rd.

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 several other research reports. Mizuho reissued a “hold” rating on shares of Corporate Office Properties Trust in a research note on Wednesday, November 1st. Jefferies Group reaffirmed a “buy” rating and set a $38.00 price target on shares of Corporate Office Properties Trust in a research note on Wednesday, December 6th. Evercore ISI raised shares of Corporate Office Properties Trust from an “in-line” rating to an “outperform” rating in a research note on Monday, December 4th. Bank of America downgraded shares of Corporate Office Properties Trust from a “buy” rating to a “neutral” rating in a research note on Monday, December 4th. Finally, TheStreet raised shares of Corporate Office Properties Trust from a “c” rating to a “b-” rating in a report on Thursday, October 26th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $33.57.

Shares of Corporate Office Properties Trust (NYSE OFC) traded down $0.65 during trading on Wednesday, hitting $27.15. The stock had a trading volume of 761,980 shares, compared to its average volume of 664,738. The stock has a market capitalization of $2,704.38, a price-to-earnings ratio of 39.35 and a beta of 0.81. Corporate Office Properties Trust has a 52-week low of $27.10 and a 52-week high of $36.03. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 1.34.

Corporate Office Properties Trust (NYSE:OFC) last released its quarterly earnings results on Thursday, October 26th. The real estate investment trust reported $0.53 EPS for the quarter, topping the Thomson Reuters’ 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 5.89% and a net margin of 14.38%. The firm’s revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the business posted $0.51 earnings per share. sell-side analysts forecast that Corporate Office Properties Trust will post 2.03 earnings per share for the current fiscal year.

In related news, Director Lisa G. Trimberger acquired 3,000 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were purchased at an average cost of $30.39 per share, with a total value of $91,170.00. Following the completion of the acquisition, the director now directly owns 1,464 shares of the company’s stock, valued at $44,490.96. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul R. Adkins bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The shares were acquired at an average price of $29.06 per share, with a total value of $290,600.00. Following the completion of the transaction, the insider now directly owns 29,465 shares of the company’s stock, valued at $856,252.90. The disclosure for this purchase can be found here. 0.60% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. raised its position in shares of Corporate Office Properties Trust by 1.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 970,521 shares of the real estate investment trust’s stock worth $33,998,000 after acquiring an additional 18,346 shares during the period. State of Wisconsin Investment Board raised its position in shares of Corporate Office Properties Trust by 5.2% in the second quarter. State of Wisconsin Investment Board now owns 19,844 shares of the real estate investment trust’s stock worth $695,000 after acquiring an additional 980 shares during the period. GAM Holding AG raised its position in shares of Corporate Office Properties Trust by 7.7% in the second quarter. GAM Holding AG now owns 8,331 shares of the real estate investment trust’s stock worth $292,000 after acquiring an additional 598 shares during the period. Prudential Financial Inc. raised its position in shares of Corporate Office Properties Trust by 1.5% in the second quarter. Prudential Financial Inc. now owns 62,280 shares of the real estate investment trust’s stock worth $2,182,000 after acquiring an additional 900 shares during the period. Finally, Utah Retirement Systems raised its position in shares of Corporate Office Properties Trust by 2.4% in the second quarter. Utah Retirement Systems now owns 25,142 shares of the real estate investment trust’s stock worth $881,000 after acquiring an additional 595 shares during the period.

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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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