Brokerages Set Corporate Office Properties Trust (NYSE:OFC) Target Price at $28.38

Corporate Office Properties Trust (NYSE:OFC) has earned an average recommendation of “Hold” from the ten analysts that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $28.38.

OFC has been the subject of a number of research analyst reports. Robert W. Baird set a $31.00 price target on Corporate Office Properties Trust and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Stifel Nicolaus set a $30.00 price target on Corporate Office Properties Trust and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Citigroup raised their price target on Corporate Office Properties Trust from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. downgraded Corporate Office Properties Trust from an “overweight” rating to a “neutral” rating and set a $30.00 price objective on the stock. in a report on Tuesday, October 8th. Finally, Zacks Investment Research upgraded Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th.

In other Corporate Office Properties Trust news, Director Robert L. Denton sold 4,000 shares of the firm’s stock in a transaction 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 approximately $7,542,560. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Greg J. Thor sold 2,507 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $29.11, for a total value of $72,978.77. Following the transaction, the chief accounting officer now owns 22,558 shares in the company, valued at $656,663.38. The disclosure for this sale can be found here. Insiders have sold a total of 8,939 shares of company stock worth $255,959 over the last 90 days. 0.60% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in OFC. TRUE Private Wealth Advisors purchased a new position in shares of Corporate Office Properties Trust in the 2nd quarter valued at $25,000. Point72 Asset Management L.P. purchased a new position in shares of Corporate Office Properties Trust in the 2nd quarter valued at $42,000. NumerixS Investment Technologies Inc purchased a new position in shares of Corporate Office Properties Trust in the 2nd quarter valued at $71,000. Advisor Group Inc. increased its holdings in shares of Corporate Office Properties Trust by 141.1% in the 2nd 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 period. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Corporate Office Properties Trust in the 2nd quarter valued at $150,000. Institutional investors and hedge funds own 97.24% of the company’s stock.

Shares of OFC stock traded up $0.16 on Friday, reaching $29.71. 430,251 shares of the company’s stock were exchanged, compared to its average volume of 508,482. Corporate Office Properties Trust has a 52 week low of $20.03 and a 52 week high of $30.12. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $3.31 billion, a PE ratio of 14.63, a P/E/G ratio of 3.20 and a beta of 0.86. The company’s fifty day simple moving average is $29.21 and its 200 day simple moving average is $28.21.

Corporate Office Properties Trust (NYSE:OFC) last issued its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.44. Corporate Office Properties Trust had a return on equity of 10.04% and a net margin of 27.67%. The firm had revenue of $175.07 million during the quarter, compared to analyst estimates of $151.18 million. During the same period last year, the company earned $0.51 EPS. Corporate Office Properties Trust’s quarterly revenue was up 19.3% compared to the same quarter last year. As a group, sell-side analysts predict that Corporate Office Properties Trust will post 2.03 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.275 per share. The ex-dividend date was Friday, September 27th. This represents a $1.10 annualized dividend and a yield of 3.70%. Corporate Office Properties Trust’s payout ratio is currently 54.73%.

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

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