Corporate Office Properties Trust (NYSE:OFC) Lifted to “Sell” at BidaskClub

Corporate Office Properties Trust (NYSE:OFC) was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Friday.

Several other research analysts have also commented on the stock. Stifel Nicolaus lowered shares of Corporate Office Properties Trust from a “hold” rating to a “sell” rating and dropped their price target for the stock from $33.00 to $29.00 in a research note on Tuesday, August 1st. They noted that the move was a valuation call. Capital One Financial Corporation lowered shares of Corporate Office Properties Trust from an “overweight” rating to an “equal weight” rating in a research note on Monday, July 31st. Zacks Investment Research lowered shares of Corporate Office Properties Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Mizuho lowered shares of Corporate Office Properties Trust from a “buy” rating to a “neutral” rating and set a $38.00 target price on the stock. in a research note on Monday, July 10th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $36.00 target price on shares of Corporate Office Properties Trust in a research note on Tuesday, July 4th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $32.75.

Shares of Corporate Office Properties Trust (NYSE OFC) traded down 0.58% during mid-day trading on Friday, reaching $32.44. 286,655 shares of the company were exchanged. The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of 44.50 and a beta of 0.83. The firm’s 50-day moving average is $34.22 and its 200-day moving average is $33.67. Corporate Office Properties Trust has a 12 month low of $24.92 and a 12 month high of $36.03.

Corporate Office Properties Trust (NYSE:OFC) last announced its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.01. Corporate Office Properties Trust had a net margin of 15.86% and a return on equity of 6.55%. The company had revenue of $151.44 million for the quarter, compared to analyst estimates of $138.04 million. During the same quarter in the prior year, the business posted $0.52 EPS. Corporate Office Properties Trust’s quarterly revenue was up 3.8% on a year-over-year basis. On average, equities analysts forecast that Corporate Office Properties Trust will post $0.79 earnings per share for the current fiscal year.

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In other Corporate Office Properties Trust news, Director David M. Jacobstein sold 3,118 shares of the stock in a transaction on Friday, May 19th. The shares were sold at an average price of $33.54, for a total value of $104,577.72. Following the completion of the sale, the director now directly owns 8,633 shares of the company’s stock, valued at approximately $289,550.82. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Steven D. Kesler sold 3,637 shares of the stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $35.40, for a total transaction of $128,749.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,873 shares of company stock valued at $404,400. Insiders own 0.60% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Teachers Advisors LLC increased its stake in shares of Corporate Office Properties Trust by 9.7% in the fourth quarter. Teachers Advisors LLC now owns 161,043 shares of the real estate investment trust’s stock worth $5,028,000 after buying an additional 14,295 shares during the period. Capstone Asset Management Co. increased its position in Corporate Office Properties Trust by 3.2% in the first quarter. Capstone Asset Management Co. now owns 8,365 shares of the real estate investment trust’s stock worth $277,000 after buying an additional 260 shares during the last quarter. Louisiana State Employees Retirement System increased its position in Corporate Office Properties Trust by 6.4% in the first quarter. Louisiana State Employees Retirement System now owns 24,900 shares of the real estate investment trust’s stock worth $824,000 after buying an additional 1,500 shares during the last quarter. Boston Advisors LLC acquired a new position in Corporate Office Properties Trust during the first quarter worth approximately $5,336,000. Finally, State of Alaska Department of Revenue increased its position in Corporate Office Properties Trust by 76.4% in the first quarter. State of Alaska Department of Revenue now owns 65,800 shares of the real estate investment trust’s stock worth $2,177,000 after buying an additional 28,490 shares during the last quarter.

About Corporate Office Properties Trust

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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