Corporate Office Properties Trust (NYSE:OFC) Price Target Raised to $28.00

Corporate Office Properties Trust (NYSE:OFC) had its price target upped by Citigroup from $26.00 to $28.00 in a report released on Friday morning, BenzingaRatingsTable reports. The firm currently has a neutral rating on the real estate investment trust’s stock.

Several other equities research analysts also recently issued reports on OFC. Zacks Investment Research upgraded shares of Corporate Office Properties Trust from a sell rating to a hold rating in a research note on Wednesday, July 17th. KeyCorp downgraded shares of Corporate Office Properties Trust from a sector weight rating to an underweight rating and set a $23.00 target price for the company. in a research note on Tuesday, April 23rd. Stifel Nicolaus set a $30.00 target price on shares of Corporate Office Properties Trust and gave the company a hold rating in a research note on Wednesday, July 31st. Finally, BTIG Research raised their target price on shares of Corporate Office Properties Trust to $33.00 and gave the company a buy rating in a research note on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $28.25.

Shares of Corporate Office Properties Trust stock traded down $0.53 during trading hours on Friday, reaching $27.26. 17,692 shares of the company’s stock were exchanged, compared to its average volume of 810,345. The business’s 50 day moving average is $27.46. Corporate Office Properties Trust has a fifty-two week low of $20.03 and a fifty-two week high of $31.01. The company has a current ratio of 1.72, a quick ratio of 1.73 and a debt-to-equity ratio of 1.05. The firm has a market cap of $3.11 billion, a PE ratio of 13.65, a P/E/G ratio of 2.98 and a beta of 0.88.

Corporate Office Properties Trust (NYSE:OFC) last issued its earnings results on Monday, July 29th. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.44. Corporate Office Properties Trust had a net margin of 27.67% and a return on equity of 10.04%. The business had revenue of $175.07 million during the quarter, compared to the consensus estimate of $151.18 million. During the same period last year, the business posted $0.51 EPS. Corporate Office Properties Trust’s revenue was up 19.3% on a year-over-year basis. Equities analysts predict that Corporate Office Properties Trust will post 2.03 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $1.10 annualized dividend and a dividend yield of 4.04%. Corporate Office Properties Trust’s dividend payout ratio is presently 54.73%.

In other news, Director Robert L. Denton sold 3,458 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $28.21, for a total transaction of $97,550.18. Following the transaction, the director now directly owns 279,432 shares of the company’s stock, valued at $7,882,776.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert L. Denton sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $27.73, for a total transaction of $110,920.00. Following the transaction, the director now directly owns 272,000 shares in the company, valued at $7,542,560. The disclosure for this sale can be found here. Insiders have sold 10,916 shares of company stock worth $305,744 over the last ninety days. Insiders own 0.60% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. TRUE Private Wealth Advisors bought a new position in shares of Corporate Office Properties Trust during the second quarter worth approximately $25,000. Quadrant Capital Group LLC increased its stake in Corporate Office Properties Trust by 537.2% in the first quarter. Quadrant Capital Group LLC now owns 3,256 shares of the real estate investment trust’s stock valued at $85,000 after acquiring an additional 2,745 shares during the last quarter. Advisor Group Inc. increased its stake in Corporate Office Properties Trust by 141.1% in the second quarter. Advisor Group Inc. now owns 4,994 shares of the real estate investment trust’s stock valued at $132,000 after acquiring an additional 2,923 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Corporate Office Properties Trust by 240.6% in the first quarter. Nisa Investment Advisors LLC now owns 5,790 shares of the real estate investment trust’s stock valued at $158,000 after acquiring an additional 4,090 shares during the last quarter. Finally, Machina Capital S.A.S. bought a new position in Corporate Office Properties Trust in the second quarter valued at approximately $170,000. 96.01% of the stock is currently owned by institutional investors.

Corporate Office Properties Trust Company Profile

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

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