Corporate Office Properties Trust (NYSE:OFC) Rating Increased to Buy at Zacks Investment Research

Corporate Office Properties Trust (NYSE:OFC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports. The brokerage presently has a $31.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s target price suggests a potential upside of 13.85% from the company’s previous close.

According to Zacks, “Corporate Office Properties Trust is a fully-integrated and self-managed real estate investment trust that focuses principally on the ownership, management, leasing, acquisition and development of suburban office buildings located in select submarkets in the Mid-Atlantic region of the United States. Corporate Office Properties operates three real estate service companies: Corporate Development Services, Corporate Office Services and Corporate Management Services. “

Separately, Raymond James cut their target price on Corporate Office Properties Trust from $33.00 to $31.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 2nd. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Corporate Office Properties Trust currently has an average rating of “Buy” and a consensus price target of $30.67.

NYSE OFC opened at $27.23 on Wednesday. The business has a 50 day simple moving average of $27.75 and a 200 day simple moving average of $28.21. Corporate Office Properties Trust has a one year low of $24.64 and a one year high of $30.51. The stock has a market capitalization of $3.06 billion, a P/E ratio of 21.11, a P/E/G ratio of 2.43 and a beta of 0.97. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.28 and a quick ratio of 1.28.

Corporate Office Properties Trust (NYSE:OFC) last announced its quarterly earnings data on Thursday, October 28th. The real estate investment trust reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.32). Corporate Office Properties Trust had a net margin of 21.74% and a return on equity of 8.80%. The firm had revenue of $174.64 million during the quarter, compared to analyst estimates of $161.22 million. During the same period last year, the business posted $0.54 EPS. The company’s revenue was up 12.8% on a year-over-year basis. Equities analysts expect that Corporate Office Properties Trust will post 2.27 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in shares of Corporate Office Properties Trust by 47.4% during the 3rd quarter. BlackRock Inc. now owns 17,182,087 shares of the real estate investment trust’s stock valued at $463,571,000 after purchasing an additional 5,527,197 shares during the period. Vanguard Group Inc. grew its position in Corporate Office Properties Trust by 3.1% during the second quarter. Vanguard Group Inc. now owns 16,457,453 shares of the real estate investment trust’s stock worth $460,643,000 after buying an additional 500,419 shares in the last quarter. State Street Corp grew its position in Corporate Office Properties Trust by 13.6% during the second quarter. State Street Corp now owns 5,568,091 shares of the real estate investment trust’s stock worth $157,389,000 after buying an additional 665,514 shares in the last quarter. Victory Capital Management Inc. grew its position in Corporate Office Properties Trust by 1.4% during the third quarter. Victory Capital Management Inc. now owns 4,211,185 shares of the real estate investment trust’s stock worth $113,618,000 after buying an additional 56,355 shares in the last quarter. Finally, Bank of America Corp DE grew its position in Corporate Office Properties Trust by 8.9% during the second quarter. Bank of America Corp DE now owns 2,494,481 shares of the real estate investment trust’s stock worth $69,820,000 after buying an additional 204,843 shares in the last quarter. Institutional investors own 98.56% of the company’s stock.

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 and data centers. The firm operates through the following segments: Defense/Information Technology Locations, Regional Office, Wholesale Data Center, and Other.

See Also: Outperform Rating

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