Corporate Office Properties Trust (OFC) Downgraded by Bank of America

Bank of America lowered shares of Corporate Office Properties Trust (NYSE:OFC) from a buy rating to a neutral rating in a research report sent to investors on Monday morning, MarketBeat Ratings reports.

Several other brokerages also recently weighed in on OFC. ValuEngine upgraded Corporate Office Properties Trust from a hold rating to a buy rating in a report on Friday, September 1st. Zacks Investment Research upgraded Corporate Office Properties Trust from a sell rating to a hold rating in a report on Thursday, September 7th. KeyCorp restated a hold rating on shares of Corporate Office Properties Trust in a report on Friday, August 25th. BidaskClub upgraded Corporate Office Properties Trust from a sell rating to a hold rating in a report on Saturday, August 19th. Finally, Jefferies Group raised Corporate Office Properties Trust from a hold rating to a buy rating and upped their price objective for the stock from $36.00 to $39.00 in a research report on Monday, September 25th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $33.57.

Shares of Corporate Office Properties Trust (NYSE:OFC) opened at $29.65 on Monday. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $2,968.35, a price-to-earnings ratio of 14.90 and a beta of 0.81. Corporate Office Properties Trust has a 1-year low of $29.03 and a 1-year high of $36.03.

Corporate Office Properties Trust (NYSE:OFC) last issued its quarterly earnings results on Thursday, October 26th. The real estate investment trust reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.01. Corporate Office Properties Trust had a return on equity of 5.89% and a net margin of 14.38%. The company had revenue of $157.00 million for the quarter, compared to the consensus estimate of $142.74 million. During the same quarter in the prior year, the business earned $0.51 EPS. Corporate Office Properties Trust’s revenue was up 10.5% on a year-over-year basis. research analysts forecast that Corporate Office Properties Trust will post 2.03 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be given a $0.275 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.71%. Corporate Office Properties Trust’s dividend payout ratio (DPR) is presently 159.42%.

In other news, Director Lisa G. Trimberger bought 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The stock was purchased at an average cost of $30.39 per share, with a total value of $91,170.00. Following the transaction, the director now directly owns 1,464 shares in the company, valued at $44,490.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.60% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the business. Eii Capital Management Inc. acquired a new stake in Corporate Office Properties Trust during the 3rd quarter worth approximately $785,000. California Public Employees Retirement System lifted its position in Corporate Office Properties Trust by 7.7% during the 3rd quarter. California Public Employees Retirement System now owns 252,194 shares of the real estate investment trust’s stock worth $8,280,000 after acquiring an additional 18,000 shares during the period. Janus Henderson Group PLC raised its stake in shares of Corporate Office Properties Trust by 9.3% during the 3rd quarter. Janus Henderson Group PLC now owns 103,100 shares of the real estate investment trust’s stock worth $3,385,000 after buying an additional 8,800 shares in the last quarter. Cohen & Steers Inc. raised its stake in shares of Corporate Office Properties Trust by 8.8% during the 3rd quarter. Cohen & Steers Inc. now owns 10,607,729 shares of the real estate investment trust’s stock worth $348,252,000 after buying an additional 860,162 shares in the last quarter. Finally, Magnetar Financial LLC purchased a new position in shares of Corporate Office Properties Trust during the 3rd quarter worth approximately $608,000.

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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.

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

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