Corporate Office Properties Trust (NYSE:OFC) PT Raised to $33.00 at BTIG Research

Corporate Office Properties Trust (NYSE:OFC) had its price objective lifted by stock analysts at BTIG Research to $33.00 in a report released on Monday, The Fly reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. BTIG Research’s price target would indicate a potential upside of 14.50% from the stock’s previous close.

Several other brokerages also recently commented on OFC. KeyCorp downgraded Corporate Office Properties Trust from a “sector weight” rating to an “underweight” rating and set a $23.00 target price for the company. in a report on Tuesday, April 23rd. Zacks Investment Research cut Corporate Office Properties Trust from a “hold” rating to a “sell” rating in a report on Saturday, February 16th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $27.14.

Corporate Office Properties Trust stock opened at $28.82 on Monday. Corporate Office Properties Trust has a one year low of $20.03 and a one year high of $31.01. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 3.11 and a beta of 0.95. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.73 and a quick ratio of 1.73.



Corporate Office Properties Trust (NYSE:OFC) last released its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.31). Corporate Office Properties Trust had a net margin of 13.28% and a return on equity of 4.74%. The firm had revenue of $148.94 million during the quarter, compared to analyst estimates of $150.89 million. During the same period in the prior year, the firm earned $0.50 earnings per share. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, analysts predict that Corporate Office Properties Trust will post 2.03 earnings per share for the current year.

In related news, Director David M. Jacobstein sold 3,458 shares of the business’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $28.13, for a total transaction of $97,273.54. Following the sale, the director now owns 9,565 shares of the company’s stock, valued at $269,063.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.60% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Corporate Office Properties Trust by 36.8% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,319 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 355 shares during the last quarter. Utah Retirement Systems lifted its stake in Corporate Office Properties Trust by 1.3% during the 1st quarter. Utah Retirement Systems now owns 29,006 shares of the real estate investment trust’s stock valued at $792,000 after acquiring an additional 364 shares during the period. State of Alaska Department of Revenue lifted its stake in shares of Corporate Office Properties Trust by 0.8% in the 1st quarter. State of Alaska Department of Revenue now owns 45,209 shares of the real estate investment trust’s stock valued at $1,232,000 after purchasing an additional 380 shares during the period. State Treasurer State of Michigan increased its holdings in Corporate Office Properties Trust by 1.3% in the 1st quarter. State Treasurer State of Michigan now owns 39,300 shares of the real estate investment trust’s stock worth $1,073,000 after acquiring an additional 500 shares in the last quarter. Finally, Comerica Bank grew its holdings in shares of Corporate Office Properties Trust by 0.6% during the first quarter. Comerica Bank now owns 88,967 shares of the real estate investment trust’s stock worth $2,458,000 after buying an additional 536 shares in the last quarter. 96.09% of the stock is owned by institutional investors.

About Corporate Office Properties Trust

COPT is a REIT that owns, manages, leases, develops and selectively acquires office and data center properties in locations that support the United States Government and its contractors, most of whom are engaged in national security, defense and information technology (“IT”) related activities servicing what it believes are growing, durable, priority missions (“Defense/IT Locations”).

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