Zacks Investment Research downgraded shares of Corporate Office Properties Trust (NYSE:OFC) from a hold rating to a sell rating in a research report released on Thursday, Zacks.com reports.

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. “

Several other research firms have also weighed in on OFC. BTIG Research lowered shares of Tableau Software from a buy rating to a neutral rating in a report on Monday, June 10th. KeyCorp set a $79.00 price objective on shares of Prologis and gave the stock a buy rating in a research report on Tuesday, April 23rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $27.14.

Shares of NYSE OFC opened at $27.30 on Thursday. The firm has a 50 day simple moving average of $27.98. Corporate Office Properties Trust has a fifty-two week low of $20.03 and a fifty-two week high of $31.01. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of 13.58, a P/E/G ratio of 2.93 and a beta of 0.87. 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 posted its earnings results on Tuesday, April 30th. The real estate investment trust reported $0.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.31). The firm had revenue of $148.94 million during the quarter, compared to analyst estimates of $150.89 million. Corporate Office Properties Trust had a return on equity of 4.74% and a net margin of 13.28%. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter last year, the business posted $0.50 earnings per share. Equities research analysts anticipate that Corporate Office Properties Trust will post 2.03 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 4.03%. The ex-dividend date of this dividend is Thursday, June 27th. Corporate Office Properties Trust’s dividend payout ratio is 54.73%.

In related news, Director David M. Jacobstein sold 3,458 shares of the firm’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $28.13, for a total value of $97,273.54. Following the completion of the transaction, the director now owns 9,565 shares of the company’s stock, valued at $269,063.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.60% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Texas Permanent School Fund grew its position in Corporate Office Properties Trust by 5.1% in the first quarter. Texas Permanent School Fund now owns 74,867 shares of the real estate investment trust’s stock valued at $2,044,000 after purchasing an additional 3,634 shares in the last quarter. Centersquare Investment Management LLC grew its position in shares of Corporate Office Properties Trust by 132.9% in the 1st quarter. Centersquare Investment Management LLC now owns 10,270 shares of the real estate investment trust’s stock valued at $280,000 after acquiring an additional 5,860 shares during the period. Geode Capital Management LLC grew its position in shares of Corporate Office Properties Trust by 7.1% in the 4th quarter. Geode Capital Management LLC now owns 1,349,969 shares of the real estate investment trust’s stock valued at $28,389,000 after acquiring an additional 89,540 shares during the period. Public Employees Retirement System of Ohio grew its position in shares of Corporate Office Properties Trust by 19.2% in the 4th quarter. Public Employees Retirement System of Ohio now owns 176,607 shares of the real estate investment trust’s stock valued at $3,714,000 after acquiring an additional 28,492 shares during the period. Finally, Squarepoint Ops LLC bought a new position in shares of Corporate Office Properties Trust in the 4th quarter valued at about $1,379,000. 95.97% of the stock is owned by institutional investors and hedge funds.

About Corporate Office Properties Trust

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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