Corporate Office Properties Trust (NYSE:OFC) has received a consensus recommendation of “Hold” from the ten ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $25.60.
OFC has been the topic of a number of recent analyst reports. Wells Fargo & Co set a $25.00 target price on shares of Corporate Office Properties Trust and gave the company a “market perform” rating in a research note on Wednesday, January 16th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Corporate Office Properties Trust from a “hold” rating to a “sell” rating in a research note on Saturday, February 16th. Finally, KeyCorp lowered shares of Corporate Office Properties Trust from a “sector weight” rating to an “underweight” rating and set a $23.00 target price on the stock. in a research note on Tuesday, April 23rd.
OFC stock traded up $0.24 during trading on Thursday, reaching $28.45. The stock had a trading volume of 5,322 shares, compared to its average volume of 676,439. Corporate Office Properties Trust has a 1-year low of $20.03 and a 1-year high of $31.01. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.73 and a quick ratio of 1.73. The firm has a market capitalization of $3.13 billion, a P/E ratio of 14.16, a P/E/G ratio of 2.82 and a beta of 1.03.
Corporate Office Properties Trust (NYSE:OFC) last issued its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.31). Corporate Office Properties Trust had a return on equity of 4.74% and a net margin of 13.28%. The firm had revenue of $148.94 million during the quarter, compared to analyst estimates of $150.89 million. During the same quarter in the prior year, the firm earned $0.50 EPS. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Corporate Office Properties Trust will post 2.04 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $0.275 dividend. The ex-dividend date is Thursday, June 27th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.87%. Corporate Office Properties Trust’s dividend payout ratio (DPR) is presently 54.73%.
In other news, Director Robert L. Denton sold 4,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $26.79, for a total value of $107,160.00. Following the sale, the director now owns 276,000 shares in the company, valued at approximately $7,394,040. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert L. Denton sold 3,458 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $28.21, for a total transaction of $97,550.18. Following the completion of the sale, the director now owns 279,432 shares in the company, valued at approximately $7,882,776.72. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.
Several institutional investors have recently modified their holdings of OFC. Ladenburg Thalmann Financial Services Inc. raised its stake in Corporate Office Properties Trust by 36.8% during the first 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 period. M&T Bank Corp acquired a new stake in Corporate Office Properties Trust during the first quarter worth about $221,000. MetLife Investment Advisors LLC raised its stake in Corporate Office Properties Trust by 1.3% during the first quarter. MetLife Investment Advisors LLC now owns 67,204 shares of the real estate investment trust’s stock worth $1,835,000 after acquiring an additional 836 shares during the period. SEI Investments Co raised its stake in Corporate Office Properties Trust by 92.7% during the first quarter. SEI Investments Co now owns 248,611 shares of the real estate investment trust’s stock worth $6,804,000 after acquiring an additional 119,583 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in Corporate Office Properties Trust by 22.3% during the first quarter. Goldman Sachs Group Inc. now owns 434,931 shares of the real estate investment trust’s stock worth $11,874,000 after acquiring an additional 79,297 shares during the period. Institutional investors and hedge funds own 95.83% of the company’s stock.
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?).
Recommended Story: Why is total return important?
Receive News & Ratings for Corporate Office Properties Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corporate Office Properties Trust and related companies with MarketBeat.com's FREE daily email newsletter.