Corporate Office Properties Trust (OFC) Rating Lowered to Sell at Zacks Investment Research

Corporate Office Properties Trust (NYSE:OFC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Friday.

According to Zacks, “Corporate Office Properties Trust is a fully-integrated and self-managed real estate investment trust that focuses principally on the ownership, management, leasing, acquisition and development of suburban office buildings located in select submarkets in the Mid-Atlantic region of the United States. Corporate Office Properties operates three real estate service companies: Corporate Development Services, Corporate Office Services and Corporate Management Services. “

Several other brokerages have also weighed in on OFC. BidaskClub lowered Corporate Office Properties Trust from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. ValuEngine upgraded Corporate Office Properties Trust from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Mizuho reiterated a “hold” rating on shares of Corporate Office Properties Trust in a research report on Wednesday, November 1st. KeyCorp reiterated a “hold” rating on shares of Corporate Office Properties Trust in a research report on Friday, August 25th. Finally, Stifel Nicolaus lowered Corporate Office Properties Trust from a “hold” rating to a “sell” rating and lowered their price objective for the stock from $33.00 to $29.00 in a research report on Tuesday, August 1st. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $34.57.

Corporate Office Properties Trust (OFC) traded up $0.04 during mid-day trading on Friday, hitting $32.37. The stock had a trading volume of 549,400 shares, compared to its average volume of 979,830. 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 $3,224.34, a price-to-earnings ratio of 16.18 and a beta of 0.84. Corporate Office Properties Trust has a 1-year low of $27.16 and a 1-year high of $36.03.

Corporate Office Properties Trust (NYSE:OFC) last posted its quarterly earnings results on Thursday, October 26th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. The business had revenue of $157.00 million during the quarter, compared to analyst estimates of $142.74 million. Corporate Office Properties Trust had a return on equity of 5.89% and a net margin of 14.38%. The business’s revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.51 earnings per share. equities research analysts forecast that Corporate Office Properties Trust will post 2.04 earnings per share for the current fiscal year.

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Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capstone Asset Management Co. boosted its position in shares of Corporate Office Properties Trust by 1.0% during 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 during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Corporate Office Properties Trust by 0.7% during 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 during the period. Public Employees Retirement Association of Colorado boosted its position in shares of Corporate Office Properties Trust by 0.5% during 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 period. World Asset Management Inc boosted its position in shares of Corporate Office Properties Trust by 3.8% during the second quarter. World Asset Management Inc now owns 6,297 shares of the real estate investment trust’s stock worth $221,000 after buying an additional 229 shares during the period. Finally, Utah Retirement Systems boosted its position in shares of Corporate Office Properties Trust by 2.4% during the second quarter. Utah Retirement Systems now owns 25,142 shares of the real estate investment trust’s stock worth $881,000 after buying an additional 595 shares during the period.

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.

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

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