The Corporate Office Properties Trust (OFC) Stock Rating Lowered by SunTrust Banks Inc.

The Corporate Office Properties Trust (OFC) Stock Rating Lowered by SunTrust Banks Inc.

Corporate Office Properties Trust (NYSE:OFC) was downgraded by equities researchers at SunTrust Banks Inc. from a “buy” rating to a “hold” rating in a research report issued on Thursday. They currently have a $32.00 price target on the real estate investment trust’s stock. SunTrust Banks Inc.’s target price suggests a potential upside of 2.43% from the stock’s previous close.

A number of other analysts also recently commented on OFC. Stifel Nicolaus reiterated a “hold” rating and set a $30.00 target price (up from $28.50) on shares of Corporate Office Properties Trust in a research report on Friday, December 23rd. Mizuho reiterated a “buy” rating on shares of Corporate Office Properties Trust in a research report on Friday, December 23rd. Finally, Raymond James Financial Inc. downgraded Corporate Office Properties Trust from an “outperform” rating to a “market perform” rating in a research report on Monday, January 9th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Corporate Office Properties Trust has a consensus rating of “Hold” and an average price target of $29.88.

Shares of Corporate Office Properties Trust (NYSE:OFC) traded down 0.41% during mid-day trading on Thursday, hitting $31.24. The company’s stock had a trading volume of 687,659 shares. Corporate Office Properties Trust has a 12-month low of $19.96 and a 12-month high of $31.69. The stock has a 50-day moving average of $30.30 and a 200-day moving average of $28.83. The company has a market cap of $2.95 billion, a PE ratio of 94.10 and a beta of 0.88.

Corporate Office Properties Trust (NYSE:OFC) last posted its earnings results on Thursday, October 27th. The real estate investment trust reported $0.51 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.51. The company had revenue of $142.10 million for the quarter, compared to the consensus estimate of $125.03 million. Corporate Office Properties Trust had a return on equity of 3.41% and a net margin of 8.00%. Corporate Office Properties Trust’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 earnings per share. On average, equities research analysts forecast that Corporate Office Properties Trust will post ($0.06) EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 17th. Investors of record on Friday, December 30th were paid a $0.275 dividend. The ex-dividend date of this dividend was Wednesday, December 28th. This represents a $1.10 annualized dividend and a yield of 3.52%. Corporate Office Properties Trust’s payout ratio is currently 333.34%.

In related news, Director Steven D. Kesler sold 4,000 shares of the company’s stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $27.72, for a total value of $110,880.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in OFC. Hancock Holding Co. acquired a new position in Corporate Office Properties Trust during the second quarter valued at approximately $233,000. Dimensional Fund Advisors LP raised its stake in shares of Corporate Office Properties Trust by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,307,637 shares of the real estate investment trust’s stock valued at $38,665,000 after buying an additional 16,904 shares in the last quarter. Teacher Retirement System of Texas raised its stake in shares of Corporate Office Properties Trust by 14.8% in the second quarter. Teacher Retirement System of Texas now owns 13,312 shares of the real estate investment trust’s stock valued at $394,000 after buying an additional 1,714 shares in the last quarter. Eaton Vance Management raised its stake in shares of Corporate Office Properties Trust by 8.9% in the second quarter. Eaton Vance Management now owns 11,000 shares of the real estate investment trust’s stock valued at $325,000 after buying an additional 900 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in shares of Corporate Office Properties Trust by 1.8% in the second quarter. UBS Asset Management Americas Inc. now owns 390,473 shares of the real estate investment trust’s stock valued at $11,546,000 after buying an additional 7,016 shares in the last quarter. Hedge funds and other institutional investors own 98.29% of the company’s stock.

Corporate Office Properties Trust Company Profile

Corporate Office Properties Trust (COPT) is a self-managed real estate investment trust. The Company owns, manages, leases, develops and acquires office and data center properties. Its segments include Defense/Information Technology (IT) Locations; Regional Office; Operating Wholesale Data Center, and Other.

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