Brokerages Set Corporate Office Properties Trust (OFC) Price Target at $27.40

Corporate Office Properties Trust (NYSE:OFC) has earned a consensus recommendation of “Hold” from the twelve ratings firms that are presently covering the firm, MarketBeat.com reports. Eight analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $27.40.

Several analysts recently weighed in on OFC shares. ValuEngine raised shares of Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a report on Thursday, December 6th. JPMorgan Chase & Co. raised shares of Corporate Office Properties Trust from a “neutral” rating to an “overweight” rating in a report on Wednesday, December 19th. Bank of America cut shares of Corporate Office Properties Trust from a “buy” rating to a “neutral” rating and reduced their target price for the company from $31.00 to $27.00 in a report on Friday, November 30th. Robert W. Baird raised shares of Corporate Office Properties Trust from a “neutral” rating to an “outperform” rating in a report on Tuesday, January 8th. Finally, Stifel Nicolaus raised shares of 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.

NYSE OFC opened at $23.64 on Friday. 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 has a one year low of $20.03 and a one year high of $31.01. The company has a market capitalization of $2.51 billion, a PE ratio of 11.65, a price-to-earnings-growth ratio of 2.48 and a beta of 0.86.

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

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 31st will be issued a $0.275 dividend. The ex-dividend date is Friday, December 28th. This represents a $1.10 annualized dividend and a yield of 4.65%. Corporate Office Properties Trust’s dividend payout ratio (DPR) is 54.19%.

In related news, CEO Stephen E. Budorick acquired 2,070 shares of the business’s stock in a transaction on Thursday, December 6th. The shares were bought at an average price of $24.14 per share, with a total value of $49,969.80. Following the completion of the acquisition, the chief executive officer now owns 112,598 shares in the company, valued at $2,718,115.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Stephen E. Budorick acquired 4,023 shares of the business’s stock in a transaction on Monday, November 19th. The shares were bought at an average cost of $24.90 per share, for a total transaction 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 ninety days, insiders purchased 17,853 shares of company stock worth $411,043. 0.60% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in OFC. Vanguard Group Inc. grew its position in shares of Corporate Office Properties Trust by 1.6% during the third quarter. Vanguard Group Inc. now owns 14,929,426 shares of the real estate investment trust’s stock worth $445,345,000 after acquiring an additional 236,834 shares during the last quarter. Vanguard Group Inc grew its position in shares of Corporate Office Properties Trust by 1.6% during the third quarter. Vanguard Group Inc now owns 14,929,426 shares of the real estate investment trust’s stock worth $445,345,000 after acquiring an additional 236,834 shares during the last quarter. FMR LLC grew its position in shares of Corporate Office Properties Trust by 5.7% during the third quarter. FMR LLC now owns 13,096,843 shares of the real estate investment trust’s stock worth $390,678,000 after acquiring an additional 709,197 shares during the last quarter. BlackRock Inc. grew its position in shares of Corporate Office Properties Trust by 3.4% during the third quarter. BlackRock Inc. now owns 11,932,173 shares of the real estate investment trust’s stock worth $355,938,000 after acquiring an additional 388,713 shares during the last quarter. Finally, Frontier Capital Management Co. LLC grew its position in shares of Corporate Office Properties Trust by 17.0% during the third quarter. Frontier Capital Management Co. LLC now owns 3,145,367 shares of the real estate investment trust’s stock worth $93,826,000 after acquiring an additional 457,705 shares during the last quarter. 96.74% of the stock is currently owned by institutional investors.

About Corporate Office Properties Trust

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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