Corporate Office Properties Trust (OFC) Coverage Initiated at Wells Fargo

Equities researchers at Wells Fargo began coverage on shares of Corporate Office Properties Trust (NYSE:OFC) in a report released on Friday. The firm set a “market perform” rating and a $29.00 price target on the real estate investment trust’s stock. Wells Fargo’s price objective points to a potential upside of 7.37% from the company’s previous close.

A number of other equities research analysts have also weighed in on the company. Zacks Investment Research lowered Corporate Office Properties Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. Citigroup dropped their price target on Corporate Office Properties Trust from $32.50 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 21st. SunTrust Banks set a $30.00 price target on Corporate Office Properties Trust and gave the stock a “hold” rating in a research note on Monday, January 22nd. ValuEngine lowered Corporate Office Properties Trust from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Robert W. Baird set a $28.00 price target on Corporate Office Properties Trust and gave the stock a “hold” rating in a research note on Friday, February 9th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $30.50.

How to Become a New Pot Stock Millionaire

OFC opened at $27.01 on Friday. Corporate Office Properties Trust has a 1 year low of $24.55 and a 1 year high of $36.03. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.81 and a current ratio of 1.81. The stock has a market capitalization of $2,757.95, a price-to-earnings ratio of 13.31, a P/E/G ratio of 7.94 and a beta of 0.68.



Corporate Office Properties Trust (NYSE:OFC) last posted its earnings results on Thursday, February 8th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.43). Corporate Office Properties Trust had a net margin of 11.44% and a return on equity of 4.82%. The company had revenue of $164.57 million during the quarter, compared to analysts’ expectations of $143.44 million. During the same quarter last year, the firm earned $0.51 EPS. Corporate Office Properties Trust’s revenue for the quarter was up 15.9% on a year-over-year basis. sell-side analysts predict that Corporate Office Properties Trust will post 2.01 EPS for the current fiscal year.

In related news, Director Robert L. Denton sold 1,500 shares of Corporate Office Properties Trust stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $26.25, for a total transaction of $39,375.00. Following the completion of the sale, the director now owns 2,508 shares of the company’s stock, valued at $65,835. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen E. Budorick bought 1,600 shares of the firm’s stock in a transaction that occurred on Tuesday, March 13th. The shares were purchased at an average cost of $26.26 per share, with a total value of $42,016.00. Following the acquisition, the chief executive officer now directly owns 103,242 shares of the company’s stock, valued at $2,711,134.92. The disclosure for this purchase can be found here. Insiders have purchased 5,400 shares of company stock valued at $138,944 in the last ninety days. Corporate insiders own 0.60% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in shares of Corporate Office Properties Trust by 5.6% during the fourth quarter. BlackRock Inc. now owns 11,314,176 shares of the real estate investment trust’s stock worth $330,375,000 after purchasing an additional 604,417 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Corporate Office Properties Trust by 58.7% during the fourth quarter. Bank of New York Mellon Corp now owns 4,637,510 shares of the real estate investment trust’s stock worth $135,415,000 after purchasing an additional 1,714,971 shares during the period. Channing Capital Management LLC lifted its holdings in shares of Corporate Office Properties Trust by 12.9% during the fourth quarter. Channing Capital Management LLC now owns 2,182,578 shares of the real estate investment trust’s stock worth $63,725,000 after purchasing an additional 249,115 shares during the period. Cramer Rosenthal Mcglynn LLC lifted its holdings in shares of Corporate Office Properties Trust by 22.9% during the fourth quarter. Cramer Rosenthal Mcglynn LLC now owns 2,001,830 shares of the real estate investment trust’s stock worth $58,453,000 after purchasing an additional 372,772 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of Corporate Office Properties Trust by 3.5% during the fourth quarter. Renaissance Technologies LLC now owns 1,906,700 shares of the real estate investment trust’s stock worth $55,676,000 after purchasing an additional 64,400 shares during the period.

WARNING: “Corporate Office Properties Trust (OFC) Coverage Initiated at Wells Fargo” was first posted by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this news story on another site, it was stolen and republished in violation of United States and international copyright and trademark legislation. The legal version of this news story can be read at https://stocknewstimes.com/2018/04/20/corporate-office-properties-trust-ofc-coverage-initiated-at-wells-fargo.html.

About Corporate Office Properties Trust

COPT is an office 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?).

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

Receive News & Ratings for Corporate Office Properties Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corporate Office Properties Trust and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply