BidaskClub cut shares of Corporate Office Properties Trust (NYSE:OFC) from a sell rating to a strong sell rating in a research note released on Thursday, August 3rd.
Several other equities analysts also recently weighed in on OFC. Zacks Investment Research downgraded Corporate Office Properties Trust from a hold rating to a sell rating in a report on Wednesday, April 26th. Jefferies Group LLC reiterated a neutral rating and issued a $36.00 price objective (up from $32.00) on shares of Corporate Office Properties Trust in a report on Tuesday, May 30th. ValuEngine upgraded Corporate Office Properties Trust from a hold rating to a buy rating in a report on Friday, June 2nd. Mizuho downgraded Corporate Office Properties Trust from a buy rating to a neutral rating and set a $38.00 price objective for the company. in a report on Monday, July 10th. Finally, Stifel Nicolaus reiterated a hold rating and issued a $33.00 price objective on shares of Corporate Office Properties Trust in a report on Friday, July 14th. Four analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $33.29.
Corporate Office Properties Trust (NYSE OFC) traded up 0.86% during mid-day trading on Thursday, hitting $32.98. 789,468 shares of the stock traded hands. Corporate Office Properties Trust has a 52-week low of $24.92 and a 52-week high of $36.03. The firm’s 50-day moving average is $33.89 and its 200 day moving average is $33.69. The firm has a market cap of $3.27 billion, a P/E ratio of 45.24 and a beta of 0.83.
Corporate Office Properties Trust (NYSE:OFC) last issued its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.01. Corporate Office Properties Trust had a return on equity of 6.55% and a net margin of 15.86%. The firm had revenue of $151.44 million during the quarter, compared to the consensus estimate of $138.04 million. During the same period last year, the company earned $0.52 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. Equities analysts predict that Corporate Office Properties Trust will post $0.79 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Saturday, September 30th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.34%. Corporate Office Properties Trust’s dividend payout ratio is currently 150.68%.
In other Corporate Office Properties Trust news, Director Robert L. Denton sold 3,118 shares of the business’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $32.73, for a total transaction of $102,052.14. Following the completion of the sale, the director now directly owns 2,508 shares in the company, valued at approximately $82,086.84. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Steven D. Kesler sold 3,637 shares of the business’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $35.40, for a total value of $128,749.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,873 shares of company stock valued at $404,400. Corporate insiders own 0.60% of the company’s stock.
Several large investors have recently added to or reduced their stakes in OFC. Capstone Asset Management Co. increased its stake in Corporate Office Properties Trust by 1.0% in the second quarter. Capstone Asset Management Co. now owns 8,445 shares of the real estate investment trust’s stock worth $296,000 after buying an additional 80 shares in the last quarter. LS Investment Advisors LLC increased its stake in Corporate Office Properties Trust by 1.5% in the first quarter. LS Investment Advisors LLC now owns 6,552 shares of the real estate investment trust’s stock worth $217,000 after buying an additional 97 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Corporate Office Properties Trust by 0.7% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,512 shares of the real estate investment trust’s stock worth $508,000 after buying an additional 98 shares in the last quarter. Utah Retirement Systems boosted its position in Corporate Office Properties Trust by 0.4% in the first quarter. Utah Retirement Systems now owns 24,547 shares of the real estate investment trust’s stock worth $812,000 after buying an additional 100 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its position in Corporate Office Properties Trust by 0.5% in the second quarter. Public Employees Retirement Association of Colorado now owns 25,648 shares of the real estate investment trust’s stock worth $898,000 after buying an additional 137 shares during the last quarter.
Corporate Office Properties Trust Company Profile
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.
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