Corporate Office Properties Trust (OFC) Given a $29.00 Price Target at SunTrust Banks

SunTrust Banks set a $29.00 price target on Corporate Office Properties Trust (NYSE:OFC) in a research report sent to investors on Friday morning. The firm currently has a hold rating on the real estate investment trust’s stock.

A number of other analysts have also issued reports on the company. Zacks Investment Research lowered Corporate Office Properties Trust from a hold rating to a sell rating in a report on Wednesday, January 3rd. TheStreet upgraded Corporate Office Properties Trust from a c rating to a b- rating in a report on Thursday, October 26th. Bank of America lowered Corporate Office Properties Trust from a buy rating to a neutral rating in a report on Monday, December 4th. Mizuho reiterated a hold rating on shares of Corporate Office Properties Trust in a report on Wednesday, November 1st. Finally, Jefferies Group reiterated a buy rating and set a $38.00 price objective on shares of Corporate Office Properties Trust in a report on Wednesday, December 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $32.14.

Shares of Corporate Office Properties Trust (NYSE OFC) opened at $26.37 on Friday. The stock has a market capitalization of $2,563.94, a price-to-earnings ratio of 46.26 and a beta of 0.68. Corporate Office Properties Trust has a 1-year low of $25.09 and a 1-year high of $36.03. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 1.34.

Corporate Office Properties Trust (NYSE:OFC) last released its earnings results on Thursday, February 8th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.43). The business had revenue of $164.57 million during the quarter, compared to analysts’ expectations of $143.44 million. Corporate Office Properties Trust had a net margin of 11.44% and a return on equity of 4.85%. Corporate Office Properties Trust’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.51 EPS. sell-side analysts expect that Corporate Office Properties Trust will post 2.02 EPS for the current fiscal year.

In other news, Director Lisa G. Trimberger acquired 3,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was acquired at an average cost of $30.39 per share, for a total transaction of $91,170.00. Following the completion of the acquisition, the director now owns 1,464 shares in the company, valued at $44,490.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul R. Adkins acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The shares were purchased at an average price of $29.06 per share, with a total value of $290,600.00. Following the completion of the acquisition, the insider now owns 29,465 shares of the company’s stock, valued at approximately $856,252.90. The disclosure for this purchase can be found here. 0.60% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in OFC. BlackRock Inc. increased its position in Corporate Office Properties Trust by 5.6% during the fourth quarter. BlackRock Inc. now owns 11,314,176 shares of the real estate investment trust’s stock worth $330,375,000 after buying an additional 604,417 shares during the last quarter. Cohen & Steers Inc. increased its position in Corporate Office Properties Trust by 8.8% during the third quarter. Cohen & Steers Inc. now owns 10,607,729 shares of the real estate investment trust’s stock worth $348,252,000 after buying an additional 860,162 shares during the last quarter. Bank of New York Mellon Corp increased its position in Corporate Office Properties Trust by 58.7% during the fourth quarter. Bank of New York Mellon Corp now owns 4,637,510 shares of the real estate investment trust’s stock worth $135,415,000 after buying an additional 1,714,971 shares during the last quarter. Wells Fargo & Company MN increased its position in Corporate Office Properties Trust by 0.4% during the third quarter. Wells Fargo & Company MN now owns 2,268,665 shares of the real estate investment trust’s stock worth $74,480,000 after buying an additional 9,474 shares during the last quarter. Finally, Channing Capital Management LLC increased its position in Corporate Office Properties Trust by 3.4% during the third quarter. Channing Capital Management LLC now owns 1,933,463 shares of the real estate investment trust’s stock worth $63,476,000 after buying an additional 63,902 shares during the last quarter.

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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.

Analyst Recommendations for Corporate Office Properties Trust (NYSE:OFC)

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