Corporate Office Properties Trust (OFC) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Corporate Office Properties Trust (NYSE:OFC) from a sell rating to a hold rating in a research note issued to investors on Tuesday, May 9th.

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 have also recently issued reports on OFC. Evercore ISI cut Corporate Office Properties Trust from a hold rating to an underperform rating in a research report on Friday, March 3rd. Jefferies Group LLC raised their price objective on Corporate Office Properties Trust from $32.00 to $33.00 and gave the stock a hold rating in a research report on Tuesday, February 21st. Mizuho lifted their price target on Corporate Office Properties Trust from $34.00 to $38.00 and gave the stock a buy rating in a research report on Monday, February 13th. Robert W. Baird lowered Corporate Office Properties Trust from an outperform rating to a neutral rating and lifted their price objective for the company from $32.00 to $33.00 in a research note on Wednesday, February 15th. Finally, SunTrust Banks, Inc. lowered Corporate Office Properties Trust from a buy rating to a hold rating and set a $32.00 price target for the company. in a research note on Thursday, January 19th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $32.88.

Shares of Corporate Office Properties Trust (NYSE:OFC) traded down 0.08% during mid-day trading on Tuesday, reaching $35.55. The company had a trading volume of 252,227 shares. The stock has a 50 day moving average price of $33.65 and a 200 day moving average price of $32.53. The firm has a market capitalization of $3.50 billion, a PE ratio of 293.80 and a beta of 0.88. Corporate Office Properties Trust has a 12-month low of $24.92 and a 12-month high of $35.93.

Corporate Office Properties Trust (NYSE:OFC) last issued its quarterly earnings results on Thursday, April 27th. The real estate investment trust reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.01. Corporate Office Properties Trust had a return on equity of 1.90% and a net margin of 4.56%. The firm had revenue of $139.80 million for the quarter, compared to the consensus estimate of $135.16 million. During the same period in the prior year, the business posted $0.47 earnings per share. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, equities analysts forecast that Corporate Office Properties Trust will post $0.81 earnings per share for the current year.

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The firm also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Friday, June 30th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.09%. The ex-dividend date is Wednesday, June 28th. Corporate Office Properties Trust’s dividend payout ratio (DPR) is presently 1,000.09%.

In other Corporate Office Properties Trust news, Director Robert L. Denton sold 3,118 shares of the company’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $32.73, for a total value of $102,052.14. Following the completion of the transaction, the director now owns 2,508 shares in the company, valued at $82,086.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert L. Denton sold 2,000 shares of the company’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $34.51, for a total transaction of $69,020.00. Following the completion of the transaction, the director now owns 294,500 shares of the company’s stock, valued at approximately $10,163,195. The disclosure for this sale can be found here. Insiders sold 8,236 shares of company stock worth $275,650 in the last three months. 0.60% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in OFC. Vanguard Group Inc. increased its stake in shares of Corporate Office Properties Trust by 5.0% in the first quarter. Vanguard Group Inc. now owns 15,297,994 shares of the real estate investment trust’s stock valued at $506,363,000 after buying an additional 729,574 shares during the period. BlackRock Inc. increased its stake in shares of Corporate Office Properties Trust by 5,196.2% in the first quarter. BlackRock Inc. now owns 10,192,603 shares of the real estate investment trust’s stock valued at $337,374,000 after buying an additional 10,000,151 shares during the period. FMR LLC increased its stake in shares of Corporate Office Properties Trust by 372.8% in the first quarter. FMR LLC now owns 5,720,769 shares of the real estate investment trust’s stock valued at $189,357,000 after buying an additional 4,510,869 shares during the period. State Street Corp increased its stake in shares of Corporate Office Properties Trust by 9.4% in the first quarter. State Street Corp now owns 4,397,989 shares of the real estate investment trust’s stock valued at $145,575,000 after buying an additional 376,490 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Corporate Office Properties Trust by 64.0% in the first quarter. JPMorgan Chase & Co. now owns 3,786,671 shares of the real estate investment trust’s stock valued at $125,340,000 after buying an additional 1,477,416 shares during the period. Institutional investors and hedge funds own 98.33% of the company’s stock.

Corporate Office Properties Trust Company Profile

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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