Corporate Office Properties Trust (OFC) Reaches New 1-Year Low at $24.19

Corporate Office Properties Trust (NYSE:OFC) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $24.19 and last traded at $24.48, with a volume of 45334 shares changing hands. The stock had previously closed at $24.67.

OFC has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a report on Saturday, July 28th. Mizuho reiterated a “hold” rating and set a $31.00 target price on shares of Corporate Office Properties Trust in a report on Monday, August 6th. Bank of America upgraded Corporate Office Properties Trust from a “neutral” rating to a “buy” rating and set a $34.00 target price on the stock in a report on Tuesday, August 7th. Robert W. Baird reiterated a “hold” rating and set a $29.00 target price on shares of Corporate Office Properties Trust in a report on Wednesday, August 8th. Finally, Wells Fargo & Co reiterated a “hold” rating on shares of Corporate Office Properties Trust in a report on Wednesday, August 15th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. Corporate Office Properties Trust has an average rating of “Hold” and a consensus target price of $30.00.

The company has a debt-to-equity ratio of 1.12, a current ratio of 1.92 and a quick ratio of 1.92. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 12.02, a P/E/G ratio of 2.74 and a beta of 0.75.

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

In related news, CEO Stephen E. Budorick purchased 4,023 shares of the company’s stock in a transaction dated Monday, November 19th. The shares were purchased at an average cost of $24.90 per share, with a total value of $100,172.70. Following the transaction, the chief executive officer now directly owns 110,528 shares in the company, valued at approximately $2,752,147.20. The purchase was disclosed in a document filed with the SEC, which is available through this link. Over the last three months, insiders bought 5,160 shares of company stock worth $131,367. Insiders own 0.60% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of OFC. Qube Research & Technologies Ltd bought a new stake in shares of Corporate Office Properties Trust in the 2nd quarter worth approximately $123,000. Private Advisor Group LLC bought a new position in Corporate Office Properties Trust in the 3rd quarter valued at approximately $210,000. Nissay Asset Management Corp Japan ADV bought a new position in Corporate Office Properties Trust in the 3rd quarter valued at approximately $211,000. NN Investment Partners Holdings N.V. bought a new position in Corporate Office Properties Trust in the 3rd quarter valued at approximately $234,000. Finally, Quantbot Technologies LP bought a new position in Corporate Office Properties Trust in the 3rd quarter valued at approximately $243,000. 97.20% of the stock is currently owned by hedge funds and other institutional investors.

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Corporate Office Properties Trust Company Profile (NYSE:OFC)

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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