Corporate Office Properties Trust (OFC) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Corporate Office Properties Trust (NYSE:OFC) from a hold rating to a sell rating in a research note issued to investors on Friday, November 10th.

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 have also issued reports on OFC. Stifel Nicolaus reissued a hold rating and set a $33.00 price target on shares of Corporate Office Properties Trust in a research note on Friday, July 14th. BidaskClub cut Corporate Office Properties Trust from a hold rating to a sell rating in a research report on Thursday, July 27th. Capital One Financial cut Corporate Office Properties Trust from an overweight rating to an equal weight rating in a research report on Monday, July 31st. ValuEngine raised Corporate Office Properties Trust from a hold rating to a buy rating in a research report on Friday, September 1st. Finally, KeyCorp reaffirmed a hold rating on shares of Corporate Office Properties Trust in a research report on Friday, August 25th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. Corporate Office Properties Trust presently has a consensus rating of Hold and an average price target of $33.71.

Shares of Corporate Office Properties Trust (NYSE:OFC) traded down $0.08 during trading on Friday, reaching $30.55. The company had a trading volume of 1,178,000 shares, compared to its average volume of 779,399. The company has a market capitalization of $3,112.78, a price-to-earnings ratio of 15.63 and a beta of 0.84. Corporate Office Properties Trust has a 52 week low of $28.27 and a 52 week high of $36.03. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.53 and a current ratio of 1.53.

Corporate Office Properties Trust (NYSE:OFC) last posted its quarterly earnings data on Thursday, October 26th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.01. Corporate Office Properties Trust had a return on equity of 5.89% and a net margin of 14.38%. The business had revenue of $157.00 million during the quarter, compared to analyst estimates of $142.74 million. During the same period last year, the company earned $0.51 EPS. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. sell-side analysts predict that Corporate Office Properties Trust will post 2.04 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.275 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.10 annualized dividend and a yield of 3.60%. Corporate Office Properties Trust’s dividend payout ratio (DPR) is currently 159.42%.

Hedge funds have recently bought and sold shares of the company. Cadence Capital Management LLC purchased a new stake in shares of Corporate Office Properties Trust in the second quarter valued at approximately $204,000. World Asset Management Inc grew its position in shares of Corporate Office Properties Trust by 3.8% in the second quarter. World Asset Management Inc now owns 6,297 shares of the real estate investment trust’s stock valued at $221,000 after purchasing an additional 229 shares in the last quarter. Garner Asset Management Corp purchased a new stake in shares of Corporate Office Properties Trust in the second quarter valued at approximately $246,000. Cubist Systematic Strategies LLC acquired a new position in Corporate Office Properties Trust in the second quarter valued at approximately $248,000. Finally, Riverhead Capital Management LLC lifted its holdings in Corporate Office Properties Trust by 48.9% in the second quarter. Riverhead Capital Management LLC now owns 7,294 shares of the real estate investment trust’s stock valued at $255,000 after acquiring an additional 2,394 shares during the last quarter.

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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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