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

Zacks Investment Research lowered shares of Corporate Office Properties Trust (NYSE:OFC) from a hold rating to a sell rating in a research note published on Friday morning.

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. “

A number of other research analysts also recently issued reports on OFC. Mizuho restated a hold rating on shares of Corporate Office Properties Trust in a research report on Wednesday, November 1st. KeyCorp restated a hold rating on shares of Corporate Office Properties Trust in a research report on Friday, August 25th. BidaskClub upgraded shares of Corporate Office Properties Trust from a sell rating to a hold rating in a research report on Saturday, August 19th. Capital One Financial Corporation downgraded shares of Corporate Office Properties Trust from an overweight rating to an equal weight rating in a research report on Monday, July 31st. Finally, Stifel Nicolaus downgraded shares of Corporate Office Properties Trust from a hold rating to a sell rating and decreased their target price for the company from $33.00 to $29.00 in a research report on Tuesday, August 1st. They noted that the move was a valuation call. Three 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. The stock currently has an average rating of Hold and a consensus price target of $34.57.

Corporate Office Properties Trust (NYSE OFC) opened at $32.41 on Friday. The stock has a market cap 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 $27.98 and a 1 year high of $36.03. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 1.34.

Corporate Office Properties Trust (NYSE:OFC) last posted its 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 company had revenue of $157.00 million during the quarter, compared to the consensus estimate of $142.74 million. Corporate Office Properties Trust had a net margin of 14.38% and a return on equity of 5.89%. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.51 earnings per share. equities analysts anticipate that Corporate Office Properties Trust will post 2.04 EPS for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.10 dividend on an annualized basis and a yield of 3.39%. Corporate Office Properties Trust’s payout ratio is 159.42%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capstone Asset Management Co. increased its holdings 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 valued at $296,000 after buying an additional 80 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings 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 valued at $508,000 after buying an additional 98 shares in the last quarter. Public Employees Retirement Association of Colorado increased its holdings 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 valued at $898,000 after buying an additional 137 shares in the last quarter. World Asset Management Inc increased its holdings in Corporate Office Properties Trust by 3.8% in the second quarter. World Asset Management Inc now owns 6,297 shares of the real estate investment trust’s stock valued at $221,000 after buying an additional 229 shares in the last quarter. Finally, Utah Retirement Systems increased its holdings in Corporate Office Properties Trust by 2.4% in the second quarter. Utah Retirement Systems now owns 25,142 shares of the real estate investment trust’s stock valued at $881,000 after buying an additional 595 shares in 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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