Stifel Nicolaus Lowers Corporate Office Properties Trust (NYSE:OFC) to Sell

Stifel Nicolaus downgraded shares of Corporate Office Properties Trust (NYSE:OFC) from a hold rating to a sell rating in a report issued on Tuesday, August 1st, Marketbeat Ratings reports. The firm currently has $29.00 price target on the real estate investment trust’s stock, down from their prior price target of $33.00. The analysts noted that the move was a valuation call.

A number of other research firms have also commented on OFC. Jefferies Group LLC reiterated a neutral rating and issued a $36.00 price objective (up from $32.00) on shares of Corporate Office Properties Trust in a research note on Tuesday, May 30th. BidaskClub lowered Corporate Office Properties Trust from a buy rating to a hold rating in a research note on Tuesday, July 11th. Zacks Investment Research lowered Corporate Office Properties Trust from a hold rating to a sell rating in a research note on Wednesday, July 12th. ValuEngine upgraded Corporate Office Properties Trust from a hold rating to a buy rating in a research note on Friday, June 2nd. Finally, Capital One Financial Corporation lowered Corporate Office Properties Trust from an overweight rating to an equal weight rating in a research note on Monday, July 31st. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $33.29.

Shares of Corporate Office Properties Trust (OFC) opened at 32.77 on Tuesday. Corporate Office Properties Trust has a 52 week low of $24.92 and a 52 week high of $36.03. The firm’s 50-day moving average price is $33.76 and its 200 day moving average price is $33.69. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of 44.95 and a beta of 0.83.

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

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The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Saturday, September 30th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 3.36%. The ex-dividend date is Thursday, September 28th. Corporate Office Properties Trust’s dividend payout ratio is 150.68%.

In other Corporate Office Properties Trust news, Director Steven D. Kesler sold 3,637 shares of the company’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert L. Denton sold 2,000 shares of the company’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $34.51, for a total transaction of $69,020.00. Following the completion of the sale, the director now owns 294,500 shares of the company’s stock, valued at approximately $10,163,195. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio raised its position in shares of Corporate Office Properties Trust by 0.9% in the second quarter. Public Employees Retirement System of Ohio now owns 157,116 shares of the real estate investment trust’s stock worth $5,504,000 after buying an additional 1,465 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in shares of Corporate Office Properties Trust by 3.0% in the second quarter. Ameritas Investment Partners Inc. now owns 29,755 shares of the real estate investment trust’s stock worth $1,042,000 after buying an additional 876 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Corporate Office Properties Trust by 2.4% in the second quarter. The Manufacturers Life Insurance Company now owns 149,087 shares of the real estate investment trust’s stock worth $5,222,000 after buying an additional 3,544 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Corporate Office Properties Trust during the second quarter worth $248,000. Finally, Cornerstone Capital Management Holdings LLC. raised its position in shares of Corporate Office Properties Trust by 550.3% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 102,949 shares of the real estate investment trust’s stock worth $3,605,000 after buying an additional 87,118 shares during 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.

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

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