Corporate Office Properties Trust (NYSE:OFC) Downgraded to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of Corporate Office Properties Trust (NYSE:OFC) from an overweight rating to a neutral rating in a report released on Tuesday, BenzingaRatingsTable reports. JPMorgan Chase & Co. currently has $30.00 price objective on the real estate investment trust’s stock.

Other equities research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Corporate Office Properties Trust from a sell rating to a hold rating in a report on Wednesday, July 17th. Stifel Nicolaus set a $30.00 price objective on shares of Corporate Office Properties Trust and gave the stock a hold rating in a report on Wednesday, July 31st. Citigroup raised their price objective on shares of Corporate Office Properties Trust from $26.00 to $28.00 and gave the stock a neutral rating in a report on Friday, August 2nd. BTIG Research raised their target price on shares of Corporate Office Properties Trust to $33.00 and gave the company a buy rating in a research report on Monday, June 10th. Finally, Robert W. Baird set a $31.00 target price on shares of Corporate Office Properties Trust and gave the company a buy rating in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. Corporate Office Properties Trust currently has an average rating of Hold and a consensus price target of $28.38.

Shares of NYSE:OFC opened at $29.10 on Tuesday. Corporate Office Properties Trust has a 12 month low of $20.03 and a 12 month high of $30.12. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 1.05. The company’s fifty day simple moving average is $29.16 and its 200 day simple moving average is $28.14. The firm has a market cap of $3.26 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 3.13 and a beta of 0.86.

Corporate Office Properties Trust (NYSE:OFC) last issued its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.44. Corporate Office Properties Trust had a net margin of 27.67% and a return on equity of 10.04%. The business had revenue of $175.07 million for the quarter, compared to analyst estimates of $151.18 million. During the same period last year, the business posted $0.51 earnings per share. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. Research analysts expect that Corporate Office Properties Trust will post 2.03 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date is Friday, September 27th. Corporate Office Properties Trust’s dividend payout ratio (DPR) is currently 54.73%.

In related news, Director Robert L. Denton sold 2,432 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $29.63, for a total value of $72,060.16. Following the completion of the transaction, the director now owns 269,568 shares of the company’s stock, valued at $7,987,299.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robert L. Denton sold 4,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $27.73, for a total transaction of $110,920.00. Following the completion of the transaction, the director now directly owns 272,000 shares of the company’s stock, valued at approximately $7,542,560. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,939 shares of company stock valued at $255,959. 0.60% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Corporate Office Properties Trust by 1.0% in the second quarter. Vanguard Group Inc. now owns 16,346,528 shares of the real estate investment trust’s stock valued at $431,057,000 after purchasing an additional 160,992 shares in the last quarter. BlackRock Inc. grew its position in Corporate Office Properties Trust by 1.2% in the second quarter. BlackRock Inc. now owns 12,752,454 shares of the real estate investment trust’s stock valued at $336,282,000 after purchasing an additional 155,808 shares in the last quarter. FMR LLC grew its position in shares of Corporate Office Properties Trust by 33.1% in the 1st quarter. FMR LLC now owns 12,463,394 shares of the real estate investment trust’s stock valued at $340,250,000 after acquiring an additional 3,096,607 shares during the period. Earnest Partners LLC bought a new position in shares of Corporate Office Properties Trust in the 2nd quarter valued at about $88,527,000. Finally, Renaissance Technologies LLC grew its position in shares of Corporate Office Properties Trust by 64.9% in the 2nd quarter. Renaissance Technologies LLC now owns 1,901,607 shares of the real estate investment trust’s stock valued at $50,145,000 after acquiring an additional 748,300 shares during the period. 97.22% of the stock is owned by institutional investors and hedge funds.

Corporate Office Properties Trust Company Profile

COPT is a REIT that owns, manages, leases, develops and selectively acquires office and data center properties in locations that support the United States Government and its contractors, most of whom are engaged in national security, defense and information technology (“IT”) related activities servicing what it believes are growing, durable, priority missions (“Defense/IT Locations”).

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