Zacks Investment Research upgraded shares of Corporate Office Properties Trust (NYSE:OFC) from a sell rating to a hold rating in a research report released on Thursday, September 7th.
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. “
Several other brokerages also recently weighed in on OFC. Jefferies Group LLC restated a neutral rating and issued a $36.00 target price (up from $32.00) on shares of Corporate Office Properties Trust in a research note on Tuesday, May 30th. BidaskClub downgraded shares of Corporate Office Properties Trust from a sell rating to a strong sell rating in a research note on Thursday, August 3rd. ValuEngine raised shares of Corporate Office Properties Trust from a hold rating to a buy rating in a report on Friday, June 2nd. Capital One Financial Corporation cut shares of Corporate Office Properties Trust from an overweight rating to an equal weight rating in a report on Monday, July 31st. Finally, Stifel Nicolaus reaffirmed a hold rating and issued a $33.00 price target on shares of Corporate Office Properties Trust in a report on Friday, July 14th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. The company has an average rating of Hold and a consensus target price of $33.33.
Corporate Office Properties Trust (NYSE:OFC) opened at 32.76 on Thursday. The company has a 50-day moving average of $32.91 and a 200-day moving average of $33.72. Corporate Office Properties Trust has a one year low of $24.92 and a one year high of $36.03. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of 44.94 and a beta of 0.84.
Corporate Office Properties Trust (NYSE:OFC) last announced its earnings results on Thursday, July 27th. The real estate investment trust reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.01. The company had revenue of $151.44 million during the quarter, compared to the consensus estimate of $138.04 million. Corporate Office Properties Trust had a net margin of 15.86% and a return on equity of 6.55%. Corporate Office Properties Trust’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the firm earned $0.52 earnings per share. On average, equities analysts forecast that Corporate Office Properties Trust will post $0.79 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Saturday, September 30th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.10 annualized dividend and a yield of 3.36%. Corporate Office Properties Trust’s payout ratio is 150.68%.
In other news, Director Steven D. Kesler sold 3,637 shares of the business’s stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $35.40, for a total value of $128,749.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.60% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in OFC. World Asset Management Inc purchased a new stake in shares of Corporate Office Properties Trust in the 1st quarter valued at approximately $201,000. Bailard Inc. purchased a new stake in shares of Corporate Office Properties Trust in the 1st quarter valued at approximately $202,000. Cadence Capital Management LLC purchased a new stake in shares of Corporate Office Properties Trust in the 2nd quarter valued at approximately $204,000. LS Investment Advisors LLC raised its stake in shares of Corporate Office Properties Trust by 1.5% in the 1st quarter. LS Investment Advisors LLC now owns 6,552 shares of the real estate investment trust’s stock valued at $217,000 after acquiring an additional 97 shares during the period. Finally, Garner Asset Management Corp purchased a new stake in shares of Corporate Office Properties Trust in the 2nd quarter valued at approximately $246,000.
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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