Zacks Investment Research cut shares of Corporate Office Properties Trust (NYSE:OFC) from a hold rating to a sell rating in a research report released on Saturday.
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. “
Get Corporate Office Properties Trust alerts:Other equities analysts have also issued reports about the stock. Robert W. Baird upgraded shares of Corporate Office Properties Trust from a neutral rating to an outperform rating in a research report on Tuesday, January 8th. ValuEngine lowered shares of Corporate Office Properties Trust from a hold rating to a sell rating in a research report on Friday, November 16th. Wells Fargo & Co set a $25.00 price objective on shares of Corporate Office Properties Trust and gave the company a market perform rating in a research report on Wednesday, January 16th. They noted that the move was a valuation call. Bank of America lowered shares of Corporate Office Properties Trust from a buy rating to a neutral rating and lowered their price objective for the company from $31.00 to $27.00 in a research report on Friday, November 30th. Finally, Stifel Nicolaus raised Corporate Office Properties Trust from a sell rating to a hold rating and set a $22.00 target price for the company in a report on Thursday, January 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. Corporate Office Properties Trust currently has a consensus rating of Hold and an average target price of $27.00.
NYSE:OFC traded up $0.31 during midday trading on Friday, reaching $26.16. The stock had a trading volume of 707,401 shares, compared to its average volume of 783,416. Corporate Office Properties Trust has a 12-month low of $20.03 and a 12-month high of $31.01. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.95 and a quick ratio of 1.92. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of 13.01, a price-to-earnings-growth ratio of 2.58 and a beta of 1.04.
Corporate Office Properties Trust (NYSE:OFC) last posted its quarterly earnings data on Thursday, February 7th. The real estate investment trust reported $0.50 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.50. Corporate Office Properties Trust had a net margin of 12.49% and a return on equity of 4.64%. The firm had revenue of $138.48 million for the quarter, compared to analyst estimates of $152.94 million. During the same period last year, the firm posted $0.53 EPS. Corporate Office Properties Trust’s quarterly revenue was down 15.9% on a year-over-year basis. As a group, analysts expect that Corporate Office Properties Trust will post 2.05 earnings per share for the current fiscal year.
In other Corporate Office Properties Trust news, Director Robert L. Denton sold 1,500 shares of the firm’s stock in a transaction on Wednesday, February 13th. The stock was sold at an average price of $25.65, for a total value of $38,475.00. Following the completion of the sale, the director now owns 280,000 shares of the company’s stock, valued at $7,182,000. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Stephen E. Budorick bought 4,023 shares of Corporate Office Properties Trust stock in a transaction on Monday, November 19th. The stock was acquired at an average cost of $24.90 per share, with a total value of $100,172.70. Following the acquisition, the chief executive officer now owns 110,528 shares of the company’s stock, valued at approximately $2,752,147.20. The disclosure for this purchase can be found here. In the last three months, insiders acquired 17,243 shares of company stock valued at $395,348. 0.60% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC raised its stake in shares of Corporate Office Properties Trust by 142.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,700 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 1,000 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Corporate Office Properties Trust by 2,069.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 864,333 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 824,484 shares during the last quarter. Fort L.P. raised its stake in shares of Corporate Office Properties Trust by 420.6% during the 4th quarter. Fort L.P. now owns 2,150 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 1,737 shares during the last quarter. Quantamental Technologies LLC acquired a new position in shares of Corporate Office Properties Trust during the 4th quarter worth $91,000. Finally, Private Advisor Group LLC acquired a new position in shares of Corporate Office Properties Trust during the 3rd quarter worth $210,000. 97.47% of the stock is owned by institutional investors.
Corporate Office Properties Trust Company Profile
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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