Corporate Office Properties Trust (OFC) Downgraded to Neutral at Bank of America

Bank of America cut shares of Corporate Office Properties Trust (NYSE:OFC) from a buy rating to a neutral rating in a research report sent to investors on Monday morning.

Several other research analysts have also recently weighed in on OFC. BidaskClub raised Corporate Office Properties Trust from a strong sell rating to a sell rating in a research note on Friday, August 11th. KeyCorp reiterated a hold rating on shares of Corporate Office Properties Trust in a research report on Friday, August 25th. ValuEngine upgraded Corporate Office Properties Trust from a hold rating to a buy rating in a research report on Friday, September 1st. Zacks Investment Research upgraded Corporate Office Properties Trust from a sell rating to a hold rating in a research report on Thursday, September 7th. Finally, Jefferies Group upgraded Corporate Office Properties Trust from a hold rating to a buy rating and increased their price target for the company from $36.00 to $39.00 in a research report on Monday, September 25th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. Corporate Office Properties Trust presently has an average rating of Hold and an average price target of $33.71.

Shares of Corporate Office Properties Trust (NYSE:OFC) traded up $0.16 during mid-day trading on Monday, reaching $30.60. The company had a trading volume of 1,403,400 shares, compared to its average volume of 789,987. Corporate Office Properties Trust has a fifty-two week low of $28.36 and a fifty-two week high of $36.03. The company has a market capitalization of $3,032.10, a PE ratio of 15.22 and a beta of 0.81. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.53 and a quick ratio of 1.53.

Corporate Office Properties Trust (NYSE:OFC) last announced its earnings results on Thursday, October 26th. The real estate investment trust reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ 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 analysts’ expectations of $142.74 million. During the same quarter last year, the business posted $0.51 earnings per share. The company’s quarterly revenue was up 10.5% on a year-over-year basis. sell-side analysts expect that Corporate Office Properties Trust will post 2.04 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be given a $0.275 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.59%. Corporate Office Properties Trust’s dividend payout ratio (DPR) is 159.42%.

In related news, Director Lisa G. Trimberger purchased 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The stock was acquired at an average price of $30.39 per share, for a total transaction of $91,170.00. Following the transaction, the director now directly owns 1,464 shares of the company’s stock, valued at approximately $44,490.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.60% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its stake in Corporate Office Properties Trust by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,518,764 shares of the real estate investment trust’s stock worth $53,202,000 after acquiring an additional 38,331 shares in the last quarter. American Century Companies Inc. lifted its stake in Corporate Office Properties Trust by 253.8% in the 2nd quarter. American Century Companies Inc. now owns 851,262 shares of the real estate investment trust’s stock worth $29,820,000 after acquiring an additional 610,641 shares in the last quarter. Legal & General Group Plc lifted its stake in Corporate Office Properties Trust by 8.5% in the 2nd quarter. Legal & General Group Plc now owns 336,586 shares of the real estate investment trust’s stock worth $11,791,000 after acquiring an additional 26,232 shares in the last quarter. Eagle Asset Management Inc. lifted its stake in Corporate Office Properties Trust by 2.3% in the 2nd quarter. Eagle Asset Management Inc. now owns 149,495 shares of the real estate investment trust’s stock worth $5,236,000 after acquiring an additional 3,394 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in Corporate Office Properties Trust by 1.9% in the 2nd 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 in 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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