Corporate Office Properties Trust (NYSE:OFC) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Corporate Office Properties Trust (NYSE:OFC) have been given a consensus rating of “Hold” by the nine ratings firms that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $28.57.

Several brokerages have issued reports on OFC. JPMorgan Chase & Co. lowered Corporate Office Properties Trust from an “overweight” rating to a “neutral” rating and set a $30.00 price target on the stock. in a report on Tuesday, October 8th. Robert W. Baird set a $31.00 price objective on Corporate Office Properties Trust and gave the company a “buy” rating in a report on Wednesday, August 21st. Finally, ValuEngine lowered Corporate Office Properties Trust from a “hold” rating to a “sell” rating in a research report on Friday, November 15th.

Shares of OFC stock traded up $0.12 on Monday, reaching $29.13. 414,774 shares of the company were exchanged, compared to its average volume of 678,837. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.64 and a quick ratio of 1.64. The company has a 50-day moving average of $29.37 and a 200-day moving average of $28.60. The company has a market cap of $3.26 billion, a price-to-earnings ratio of 14.49, a PEG ratio of 3.19 and a beta of 0.83. Corporate Office Properties Trust has a one year low of $20.03 and a one year high of $30.27.

Corporate Office Properties Trust (NYSE:OFC) last issued its earnings results on Monday, October 28th. The real estate investment trust reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.31). Corporate Office Properties Trust had a net margin of 27.11% and a return on equity of 10.07%. The firm had revenue of $159.43 million during the quarter, compared to the consensus estimate of $154.65 million. During the same period in the previous year, the firm earned $0.50 earnings per share. The business’s quarterly revenue was up 16.0% on a year-over-year basis. As a group, sell-side analysts predict that Corporate Office Properties Trust will post 2.03 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.275 per share. The ex-dividend date is Monday, December 30th. This represents a $1.10 dividend on an annualized basis and a yield of 3.78%. 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 Corporate Office Properties Trust stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $29.63, for a total transaction of $72,060.16. Following the transaction, the director now owns 269,568 shares of the company’s stock, valued at $7,987,299.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert L. Denton sold 2,000 shares of Corporate Office Properties Trust stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $29.18, for a total value of $58,360.00. Following the transaction, the director now directly owns 267,568 shares in the company, valued at approximately $7,807,634.24. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OFC. Vanguard Group Inc. increased its stake in Corporate Office Properties Trust by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 16,346,528 shares of the real estate investment trust’s stock valued at $431,057,000 after buying an additional 160,992 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Corporate Office Properties Trust by 1.2% in the 2nd quarter. BlackRock Inc. now owns 12,752,454 shares of the real estate investment trust’s stock worth $336,282,000 after buying an additional 155,808 shares during the last quarter. State Street Corp boosted its stake in shares of Corporate Office Properties Trust by 1.0% in the 3rd quarter. State Street Corp now owns 5,566,028 shares of the real estate investment trust’s stock worth $167,268,000 after buying an additional 57,607 shares during the last quarter. Earnest Partners LLC bought a new position in shares of Corporate Office Properties Trust in the second quarter valued at approximately $88,527,000. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Corporate Office Properties Trust by 14.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,952,899 shares of the real estate investment trust’s stock valued at $58,157,000 after acquiring an additional 239,291 shares in the last quarter. 95.37% 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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Analyst Recommendations for Corporate Office Properties Trust (NYSE:OFC)

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