Corporate Office Properties Trust (NYSE:OFC) Stock Rating Upgraded by 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 note issued to investors on Wednesday, Zacks.com reports. The firm currently has a $31.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s price target suggests a potential upside of 13.85% from the stock’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 decreased their price objective on Corporate Office Properties Trust from $33.00 to $31.00 and set an “outperform” rating for the company in a research report on Tuesday, November 2nd. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $30.67.

Corporate Office Properties Trust stock opened at $27.23 on Wednesday. The stock has a 50-day simple moving average of $27.75 and a 200 day simple moving average of $28.21. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.29. Corporate Office Properties Trust has a 12-month low of $24.64 and a 12-month high of $30.51. The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of 21.11, a P/E/G ratio of 2.43 and a beta of 0.97.

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

Several institutional investors have recently made changes to their positions in the company. Dark Forest Capital Management LP bought a new stake in Corporate Office Properties Trust in the 3rd quarter valued at $25,000. Cullen Frost Bankers Inc. acquired a new position in Corporate Office Properties Trust in the 2nd quarter valued at $26,000. Spire Wealth Management acquired a new position in Corporate Office Properties Trust in the 3rd quarter valued at $27,000. Rockefeller Capital Management L.P. acquired a new position in Corporate Office Properties Trust in the 2nd quarter valued at $50,000. Finally, Parisi Gray Wealth Management acquired a new position in Corporate Office Properties Trust in the 2nd quarter valued at $98,000. Institutional investors own 98.56% of the company’s stock.

About Corporate Office Properties Trust

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.

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