Zacks Investment Research Upgrades Corporate Office Properties Trust (OFC) to Hold

Corporate Office Properties Trust (NYSE:OFC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

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 brokerages have also commented on OFC. TheStreet raised shares of Corporate Office Properties Trust from a “c” rating to a “b-” rating in a report on Thursday, October 26th. SunTrust Banks, Inc. reissued a “hold” rating and set a $34.00 price target on shares of Corporate Office Properties Trust in a research report on Friday, October 27th. BidaskClub cut shares of Corporate Office Properties Trust from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 3rd. Capital One Financial Corporation cut shares of Corporate Office Properties Trust from an “overweight” rating to an “equal weight” rating in a research report on Monday, July 31st. Finally, Jefferies Group LLC raised shares of Corporate Office Properties Trust from a “hold” rating to a “buy” rating and increased their price target for the company from $36.00 to $39.00 in a research report on Monday, September 25th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $34.57.

Shares of Corporate Office Properties Trust (OFC) opened at $31.01 on Wednesday. The company has a market cap of $3,090.00, a P/E ratio of 15.49 and a beta of 0.84. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.53 and a current ratio of 1.53. Corporate Office Properties Trust has a 52 week low of $28.08 and a 52 week high of $36.03.

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

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Several large investors have recently bought and sold shares of the company. Eii Capital Management Inc. purchased a new stake in shares of Corporate Office Properties Trust in the 3rd quarter worth about $785,000. California Public Employees Retirement System lifted its position in Corporate Office Properties Trust by 7.7% during the 3rd quarter. California Public Employees Retirement System now owns 252,194 shares of the real estate investment trust’s stock valued at $8,280,000 after acquiring an additional 18,000 shares during the period. Janus Henderson Group PLC lifted its position in Corporate Office Properties Trust by 9.3% during the 3rd quarter. Janus Henderson Group PLC now owns 103,100 shares of the real estate investment trust’s stock valued at $3,385,000 after acquiring an additional 8,800 shares during the period. Cohen & Steers Inc. lifted its position in Corporate Office Properties Trust by 8.8% during the 3rd quarter. Cohen & Steers Inc. now owns 10,607,729 shares of the real estate investment trust’s stock valued at $348,252,000 after acquiring an additional 860,162 shares during the period. Finally, Magnetar Financial LLC purchased a new position in Corporate Office Properties Trust during the 3rd quarter valued at about $608,000.

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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