Corporate Office Properties Trust (OFC) Rating Increased to Outperform at Robert W. Baird

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Robert W. Baird upgraded shares of Corporate Office Properties Trust (NYSE:OFC) from a neutral rating to an outperform rating in a research report sent to investors on Tuesday, MarketBeat.com reports.

Other equities research analysts have also issued research reports about the stock. Bank of America lowered their target price on shares of Corporate Office Properties Trust from $34.00 to $31.00 and set a buy rating on the stock in a report on Monday, October 29th. Stifel Nicolaus raised shares of Corporate Office Properties Trust from a sell rating to a hold rating and set a $22.00 target price on the stock in a report on Thursday, January 3rd. ValuEngine raised shares of Corporate Office Properties Trust from a sell rating to a hold rating in a report on Thursday, December 6th. Finally, JPMorgan Chase & Co. raised shares of Corporate Office Properties Trust from a neutral rating to an overweight rating in a report on Wednesday, December 19th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. Corporate Office Properties Trust presently has a consensus rating of Hold and an average price target of $27.86.

Shares of OFC traded up $0.10 during trading hours on Tuesday, hitting $23.50. The stock had a trading volume of 298,188 shares, compared to its average volume of 1,011,913. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.92 and a current ratio of 1.92. Corporate Office Properties Trust has a 52 week low of $20.03 and a 52 week high of $31.01. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 2.48 and a beta of 0.86.

Corporate Office Properties Trust (NYSE:OFC) last posted its earnings results on Thursday, October 25th. The real estate investment trust reported $0.18 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. Corporate Office Properties Trust had a net margin of 10.78% and a return on equity of 4.30%. The business had revenue of $137.41 million for the quarter, compared to analyst estimates of $129.45 million. As a group, sell-side analysts anticipate that Corporate Office Properties Trust will post 2.01 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date of this dividend is Friday, December 28th. Corporate Office Properties Trust’s dividend payout ratio is currently 54.19%.

In related news, CEO Stephen E. Budorick acquired 4,023 shares of the firm’s stock in a transaction on Monday, November 19th. The shares were purchased at an average price of $24.90 per share, with a total value of $100,172.70. Following the acquisition, the chief executive officer now directly owns 110,528 shares in the company, valued at $2,752,147.20. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Stephen E. Budorick bought 1,206 shares of Corporate Office Properties Trust stock in a transaction dated Monday, December 31st. The stock was acquired at an average cost of $20.74 per share, for a total transaction of $25,012.44. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 17,853 shares of company stock worth $411,043. Insiders own 0.60% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue boosted its stake in shares of Corporate Office Properties Trust by 1.9% in the 4th quarter. State of Alaska Department of Revenue now owns 44,829 shares of the real estate investment trust’s stock valued at $941,000 after purchasing an additional 829 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Corporate Office Properties Trust by 0.3% in the 3rd quarter. Legal & General Group Plc now owns 445,401 shares of the real estate investment trust’s stock valued at $13,287,000 after purchasing an additional 1,388 shares during the last quarter. Glen Harbor Capital Management LLC boosted its stake in shares of Corporate Office Properties Trust by 18.0% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 11,418 shares of the real estate investment trust’s stock valued at $331,000 after purchasing an additional 1,738 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Corporate Office Properties Trust by 5.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 39,345 shares of the real estate investment trust’s stock valued at $1,141,000 after purchasing an additional 2,038 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its stake in shares of Corporate Office Properties Trust by 10.6% in the 3rd quarter. Hsbc Holdings PLC now owns 21,432 shares of the real estate investment trust’s stock valued at $639,000 after purchasing an additional 2,058 shares during the last quarter. 96.74% of the stock is currently owned by institutional investors.

Corporate Office Properties Trust Company Profile

Corporate Office Properties Trust, Inc is a real estate investment trust. It acquires, develops, manages, sells, and leases out office properties. The firm operates through the following segments: Defense/Information Technology Locations, Regional Office, Wholesale Data Center, and Other. The company was founded in 1988 and is headquartered in Columbia, MD.

Further Reading: How to interpret a stock’s beta number

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

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