Analysts Set Corporate Office Properties Trust (OFC) Price Target at $33.33
Corporate Office Properties Trust (NYSE:OFC) has been given a consensus rating of “Hold” by the twelve analysts that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $33.33.
A number of equities research analysts have issued reports on OFC shares. Mizuho lowered Corporate Office Properties Trust from a “buy” rating to a “neutral” rating and set a $38.00 price target for the company. in a research note on Monday, July 10th. Zacks Investment Research upgraded Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, May 9th. BidaskClub upgraded Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Stifel Nicolaus lowered Corporate Office Properties Trust from a “hold” rating to a “sell” rating and cut their price target for the stock from $33.00 to $29.00 in a research note on Tuesday, August 1st. They noted that the move was a valuation call. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $36.00 price target on shares of Corporate Office Properties Trust in a research note on Tuesday, July 4th.
In related news, Director Robert L. Denton sold 2,000 shares of the stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $34.51, for a total value of $69,020.00. Following the completion of the transaction, the director now owns 294,500 shares of the company’s stock, valued at approximately $10,163,195. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven D. Kesler sold 3,637 shares of the stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $35.40, for a total transaction of $128,749.80. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in OFC. Cadence Capital Management LLC acquired a new position in shares of Corporate Office Properties Trust during the second quarter worth approximately $204,000. World Asset Management Inc purchased a new stake in shares of Corporate Office Properties Trust during the first quarter valued at about $201,000. Bailard Inc. purchased a new stake in shares of Corporate Office Properties Trust during the first quarter valued at about $202,000. LS Investment Advisors LLC increased its stake in shares of Corporate Office Properties Trust by 1.5% in the first quarter. LS Investment Advisors LLC now owns 6,552 shares of the real estate investment trust’s stock valued at $217,000 after buying an additional 97 shares during the last quarter. Finally, Garner Asset Management Corp purchased a new stake in shares of Corporate Office Properties Trust during the second quarter valued at about $246,000.
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Corporate Office Properties Trust (NYSE:OFC) traded up 0.75% during trading on Tuesday, reaching $33.61. The company had a trading volume of 86,332 shares. Corporate Office Properties Trust has a one year low of $24.92 and a one year high of $36.03. The firm’s 50-day moving average price is $33.35 and its 200 day moving average price is $33.75. The firm has a market capitalization of $3.33 billion, a P/E ratio of 46.10 and a beta of 0.83.
Corporate Office Properties Trust (NYSE:OFC) last issued its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.01. Corporate Office Properties Trust had a return on equity of 6.55% and a net margin of 15.86%. The business had revenue of $151.44 million during the quarter, compared to analyst estimates of $138.04 million. During the same quarter in the prior year, the business posted $0.52 EPS. Corporate Office Properties Trust’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities analysts forecast that Corporate Office Properties Trust will post $0.79 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Saturday, September 30th will be given a dividend of $0.275 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.30%. Corporate Office Properties Trust’s payout ratio is 150.68%.
About Corporate Office Properties Trust
Corporate Office Properties Trust is a fully-integrated and self-managed real estate investment trust (REIT). The Company owns, manages, leases, develops and acquires office and data center properties. The Company’s segments are Defense/IT Locations; Regional Office; operating wholesale data center, and other.
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