Corporate Office Properties Trust (OFC) – Research Analysts’ Weekly Ratings Updates

A number of firms have modified their ratings and price targets on shares of Corporate Office Properties Trust (NYSE: OFC) recently:

  • 6/8/2022 – Corporate Office Properties Trust was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Corporate Office Properties Trust is a fully-integrated and self-managed real estate investment trust that focuses principally on the ownership, management, leasing, acquisition and development of suburban office buildings located in select submarkets in the Mid-Atlantic region of the United States. Corporate Office Properties operates three real estate service companies: Corporate Development Services, Corporate Office Services and Corporate Management Services. “
  • 6/7/2022 – Corporate Office Properties Trust was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $30.00 price target on the stock. According to Zacks, “Corporate Office Properties Trust is a fully-integrated and self-managed real estate investment trust that focuses principally on the ownership, management, leasing, acquisition and development of suburban office buildings located in select submarkets in the Mid-Atlantic region of the United States. Corporate Office Properties operates three real estate service companies: Corporate Development Services, Corporate Office Services and Corporate Management Services. “
  • 6/2/2022 – Corporate Office Properties Trust was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Corporate Office Properties Trust is a fully-integrated and self-managed real estate investment trust that focuses principally on the ownership, management, leasing, acquisition and development of suburban office buildings located in select submarkets in the Mid-Atlantic region of the United States. Corporate Office Properties operates three real estate service companies: Corporate Development Services, Corporate Office Services and Corporate Management Services. “
  • 5/31/2022 – Corporate Office Properties Trust was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $30.00 price target on the stock. According to Zacks, “Corporate Office Properties Trust is a fully-integrated and self-managed real estate investment trust that focuses principally on the ownership, management, leasing, acquisition and development of suburban office buildings located in select submarkets in the Mid-Atlantic region of the United States. Corporate Office Properties operates three real estate service companies: Corporate Development Services, Corporate Office Services and Corporate Management Services. “
  • 5/30/2022 – Corporate Office Properties Trust was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.

OFC stock opened at $27.60 on Wednesday. Corporate Office Properties Trust has a 12 month low of $23.89 and a 12 month high of $30.51. The firm has a market cap of $3.10 billion, a PE ratio of 21.90, a P/E/G ratio of 2.17 and a beta of 0.95. The firm has a 50 day simple moving average of $27.25 and a 200 day simple moving average of $27.08. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.79 and a quick ratio of 1.79.

Corporate Office Properties Trust (NYSE:OFCGet Rating) last released its earnings results on Thursday, April 28th. The real estate investment trust reported $0.52 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.04). The business had revenue of $195.48 million for the quarter, compared to analyst estimates of $168.33 million. Corporate Office Properties Trust had a net margin of 19.78% and a return on equity of 6.67%. The firm’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.56 earnings per share. As a group, sell-side analysts expect that Corporate Office Properties Trust will post 2.34 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be given a $0.275 dividend. The ex-dividend date is Wednesday, June 29th. This represents a $1.10 annualized dividend and a dividend yield of 3.99%. Corporate Office Properties Trust’s dividend payout ratio (DPR) is presently 87.30%.

In other news, Director Robert L. Denton sold 3,416 shares of the stock in a transaction on Wednesday, May 18th. The shares were sold at an average price of $26.74, for a total transaction of $91,343.84. Following the transaction, the director now owns 3,941 shares in the company, valued at approximately $105,382.34. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Greg J. Thor sold 2,333 shares of the stock in a transaction on Monday, March 28th. The stock was sold at an average price of $28.79, for a total transaction of $67,167.07. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in Corporate Office Properties Trust by 3.8% in the 4th quarter. BlackRock Inc. now owns 17,831,166 shares of the real estate investment trust’s stock valued at $498,738,000 after purchasing an additional 649,079 shares during the period. Vanguard Group Inc. lifted its holdings in Corporate Office Properties Trust by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 16,712,712 shares of the real estate investment trust’s stock valued at $476,980,000 after purchasing an additional 160,659 shares during the last quarter. State Street Corp lifted its holdings in Corporate Office Properties Trust by 12.9% during the 1st quarter. State Street Corp now owns 6,752,312 shares of the real estate investment trust’s stock valued at $194,536,000 after purchasing an additional 769,941 shares during the last quarter. Victory Capital Management Inc. increased its position in Corporate Office Properties Trust by 1.6% in the 1st quarter. Victory Capital Management Inc. now owns 4,459,424 shares of the real estate investment trust’s stock valued at $127,221,000 after acquiring an additional 69,979 shares in the last quarter. Finally, Bank of America Corp DE increased its position in Corporate Office Properties Trust by 2.2% in the 4th quarter. Bank of America Corp DE now owns 2,451,023 shares of the real estate investment trust’s stock valued at $68,555,000 after acquiring an additional 52,917 shares in the last quarter.

COPT is a REIT that owns, manages, leases, develops and selectively acquires office and data center properties. The majority of its portfolio is 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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