Corporate Office Properties Trust (OFC) Stock Rating Upgraded by ValuEngine

Corporate Office Properties Trust (NYSE:OFC) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

Several other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. raised Corporate Office Properties Trust from a “neutral” rating to an “overweight” rating in a research note on Wednesday, December 19th. Bank of America downgraded Corporate Office Properties Trust from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $31.00 to $27.00 in a report on Friday, November 30th. Robert W. Baird raised Corporate Office Properties Trust from a “neutral” rating to an “outperform” rating in a report on Tuesday. Finally, Stifel Nicolaus raised Corporate Office Properties Trust from a “sell” rating to a “hold” rating and set a $22.00 target price on the stock in a report on Thursday, January 3rd. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $27.86.

OFC stock traded up $0.24 during midday trading on Friday, hitting $23.64. The stock had a trading volume of 574,700 shares, compared to its average volume of 980,063. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of 11.65, a PEG ratio of 2.48 and a beta of 0.86. Corporate Office Properties Trust has a 52-week low of $20.03 and a 52-week high of $31.01. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 1.12.

Corporate Office Properties Trust (NYSE:OFC) last issued its quarterly earnings results on Thursday, October 25th. The real estate investment trust reported $0.18 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. The company had revenue of $137.41 million for the quarter, compared to analysts’ expectations of $129.45 million. Corporate Office Properties Trust had a return on equity of 4.30% and a net margin of 10.78%. Equities research analysts expect that Corporate Office Properties Trust will post 2.01 earnings per share for the current fiscal year.

In other Corporate Office Properties Trust news, Director Philip L. Hawkins purchased 4,500 shares of the stock in a transaction dated Friday, December 14th. The shares were purchased at an average cost of $22.54 per share, with a total value of $101,430.00. Following the completion of the acquisition, the director now directly owns 4,922 shares in the company, valued at approximately $110,941.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Stephen E. Budorick purchased 1,206 shares of the stock in a transaction dated Tuesday, December 31st. The shares were acquired at an average cost of $20.74 per share, for a total transaction of $25,012.44. Following the completion of the acquisition, the chief executive officer now owns 119,284 shares of the company’s stock, valued at $2,473,950.16. The disclosure for this purchase can be found here. Insiders acquired 17,853 shares of company stock worth $411,043 over the last three months. Corporate insiders own 0.60% of the company’s stock.

Several large investors have recently made changes to their positions in the company. State of Alaska Department of Revenue lifted its holdings in shares of Corporate Office Properties Trust by 1.9% during the fourth quarter. State of Alaska Department of Revenue now owns 44,829 shares of the real estate investment trust’s stock valued at $941,000 after purchasing an additional 829 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Corporate Office Properties Trust by 0.3% during the third quarter. Legal & General Group Plc now owns 445,401 shares of the real estate investment trust’s stock valued at $13,287,000 after purchasing an additional 1,388 shares in the last quarter. Glen Harbor Capital Management LLC lifted its holdings in shares of Corporate Office Properties Trust by 18.0% during the second quarter. Glen Harbor Capital Management LLC now owns 11,418 shares of the real estate investment trust’s stock valued at $331,000 after purchasing an additional 1,738 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Corporate Office Properties Trust by 5.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 39,345 shares of the real estate investment trust’s stock valued at $1,141,000 after purchasing an additional 2,038 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of Corporate Office Properties Trust by 10.6% during the third quarter. Hsbc Holdings PLC now owns 21,432 shares of the real estate investment trust’s stock valued at $639,000 after purchasing an additional 2,058 shares in the last quarter. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Corporate Office Properties Trust Company Profile

Corporate Office Properties Trust, Inc is a real estate investment trust. It acquires, develops, manages, sells, and leases out office properties. The firm operates through the following segments: Defense/Information Technology Locations, Regional Office, Wholesale Data Center, and Other. The company was founded in 1988 and is headquartered in Columbia, MD.

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

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