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

Shares of Corporate Office Properties Trust (NYSE:OFC) have earned an average rating of “Hold” from the eleven brokerages that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $26.83.

A number of brokerages recently commented on OFC. BTIG Research lowered Tableau Software from a “buy” rating to a “neutral” rating in a research report on Monday, June 10th. KeyCorp set a $79.00 target price on Prologis and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Finally, Zacks Investment Research raised General Moly from a “sell” rating to a “hold” rating in a research report on Thursday.

Corporate Office Properties Trust stock traded down $0.12 during midday trading on Friday, reaching $27.25. The stock had a trading volume of 27,258 shares, compared to its average volume of 950,454. Corporate Office Properties Trust has a 12 month low of $20.03 and a 12 month high of $31.01. The company has a market cap of $3.11 billion, a P/E ratio of 13.56, a P/E/G ratio of 2.98 and a beta of 0.86. The business has a fifty day moving average price of $28.00. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.73 and a quick ratio of 1.73.

Corporate Office Properties Trust (NYSE:OFC) last issued its earnings results on Tuesday, April 30th. 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 13.28% and a return on equity of 4.74%. The firm had revenue of $148.94 million during the quarter, compared to the consensus estimate of $150.89 million. During the same period in the previous year, the firm earned $0.50 earnings per share. The business’s quarterly revenue was down 4.2% on a year-over-year basis. On average, equities analysts expect that Corporate Office Properties Trust will post 2.03 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend is Thursday, June 27th. Corporate Office Properties Trust’s payout ratio is 54.73%.

In related news, Director Robert L. Denton sold 3,458 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $28.21, for a total value of $97,550.18. Following the completion of the sale, the director now directly owns 279,432 shares of the company’s stock, valued at approximately $7,882,776.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.60% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue increased its holdings in Corporate Office Properties Trust by 0.8% during the 1st quarter. State of Alaska Department of Revenue now owns 45,209 shares of the real estate investment trust’s stock worth $1,232,000 after purchasing an additional 380 shares in the last quarter. State Treasurer State of Michigan increased its holdings in Corporate Office Properties Trust by 1.3% during the 1st quarter. State Treasurer State of Michigan now owns 39,300 shares of the real estate investment trust’s stock worth $1,073,000 after purchasing an additional 500 shares in the last quarter. Comerica Bank increased its holdings in Corporate Office Properties Trust by 0.6% during the 1st quarter. Comerica Bank now owns 88,967 shares of the real estate investment trust’s stock worth $2,458,000 after purchasing an additional 536 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in Corporate Office Properties Trust by 2.1% during the 1st quarter. Louisiana State Employees Retirement System now owns 29,500 shares of the real estate investment trust’s stock worth $805,000 after purchasing an additional 600 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Corporate Office Properties Trust by 2.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,554 shares of the real estate investment trust’s stock worth $752,000 after purchasing an additional 636 shares in the last quarter. 96.00% of the stock is owned by hedge funds and other institutional investors.

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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