ValuEngine Lowers Corporate Office Properties Trust (NYSE:OFC) to Sell

ValuEngine lowered shares of Corporate Office Properties Trust (NYSE:OFC) from a hold rating to a sell rating in a research report sent to investors on Friday morning, ValuEngine reports.

A number of other research firms also recently issued reports on OFC. Robert W. Baird set a $31.00 price target on shares of Corporate Office Properties Trust and gave the company a buy rating in a research note on Wednesday, August 21st. Stifel Nicolaus set a $30.00 price target on shares of Corporate Office Properties Trust and gave the company a hold rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. downgraded shares of Corporate Office Properties Trust from an overweight rating to a neutral rating and set a $30.00 price target on the stock. in a research note on Tuesday, October 8th. Finally, Citigroup boosted their price target on shares of Corporate Office Properties Trust from $26.00 to $28.00 and gave the company a neutral rating in a research note on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. Corporate Office Properties Trust currently has a consensus rating of Hold and a consensus price target of $28.38.

Shares of NYSE:OFC traded up $0.07 during midday trading on Friday, hitting $29.22. The company’s stock had a trading volume of 618,607 shares, compared to its average volume of 685,879. The business’s 50 day simple moving average is $29.50 and its 200 day simple moving average is $28.49. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.64 and a current ratio of 1.64. The company has a market cap of $3.28 billion, a P/E ratio of 14.54, a price-to-earnings-growth ratio of 3.17 and a beta of 0.84. Corporate Office Properties Trust has a 12-month low of $20.03 and a 12-month high of $30.27.

Corporate Office Properties Trust (NYSE:OFC) last issued its earnings results on Monday, October 28th. 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 return on equity of 10.07% and a net margin of 27.11%. The firm had revenue of $159.43 million for the quarter, compared to analysts’ expectations of $154.65 million. During the same period last year, the firm earned $0.50 earnings per share. Corporate Office Properties Trust’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, sell-side analysts predict that Corporate Office Properties Trust will post 2.03 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date is Monday, December 30th. Corporate Office Properties Trust’s dividend payout ratio (DPR) is currently 54.73%.

In related news, CAO Greg J. Thor sold 2,507 shares of Corporate Office Properties Trust stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $29.11, for a total value of $72,978.77. Following the completion of the transaction, the chief accounting officer now owns 22,558 shares in the company, valued at $656,663.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert L. Denton sold 2,432 shares of Corporate Office Properties Trust stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $29.63, for a total transaction of $72,060.16. Following the completion of the transaction, the director now owns 269,568 shares of the company’s stock, valued at approximately $7,987,299.84. The disclosure for this sale can be found here. Insiders sold 6,939 shares of company stock valued at $203,399 in the last 90 days. Company insiders own 0.60% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. TRUE Private Wealth Advisors acquired a new position in shares of Corporate Office Properties Trust in the second quarter valued at approximately $25,000. Point72 Asset Management L.P. acquired a new position in Corporate Office Properties Trust during the 2nd quarter worth approximately $42,000. NumerixS Investment Technologies Inc acquired a new position in Corporate Office Properties Trust during the 2nd quarter worth approximately $71,000. Advisor Group Inc. grew its holdings in Corporate Office Properties Trust by 141.1% during the 2nd quarter. Advisor Group Inc. now owns 4,994 shares of the real estate investment trust’s stock worth $132,000 after acquiring an additional 2,923 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in Corporate Office Properties Trust during the 2nd quarter worth approximately $150,000. Hedge funds and other institutional investors own 96.10% of the company’s stock.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Corporate Office Properties Trust (NYSE:OFC)

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