The stock of Corporate Office Properties Trust (NYSE:OFC) last traded at $27.65, up 0.77% from the previous session.
Data from the available sources indicates that Corporate Office Properties Trust (NYSE:OFC) is covered by 12 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $35.00 and a low of $25.00, we find $30.50. Given the previous closing price of $27.44, this indicates a potential upside of 11.15 percent. OFC stock price is now 4.31% away from the 50-day moving average and 5.06% away from the 200-day moving average. The market capitalization of the company currently stands at $3.08B.
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In total, 4 analysts have assigned it a hold rating, and 6 have given it a buy rating. Brokers who have rated the stock have averaged $30.33 as their price target over the next twelve months.
With the price target reduced from $30 to $28, Truist Downgraded its rating from Buy to Hold for Corporate Office Properties Trust (NYSE: OFC)., while ‘KeyBanc Capital Markets’ rates the stock as ‘Underweight’.
In other news, DENTON ROBERT L, Director sold 3,416 shares of the company’s stock on May 18. The stock was sold for $91,360 at an average price of $26.74. Upon completion of the transaction, the Director now directly owns 3,941 shares in the company, valued at $0.11 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 29, SVP–CAO & CONTROLLER Thor Greg J sold 2,000 shares of the business’s stock. A total of $58,702 was realized by selling the stock at an average price of $29.35. This leaves the insider owning 18,096 shares of the company worth $0.5 million. Insiders disposed of 9,980 shares of company stock worth roughly $0.28 million over the past 1 year. A total of 0.35% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in OFC stock. A new stake in Corporate Office Properties Trust shares was purchased by AEW CAPITAL MANAGEMENT L P during the first quarter worth $14,100,000. GREAT WEST LIFE ASSURANCE CO /CAN/ invested $4,958,000 in shares of OFC during the first quarter. In the first quarter, AMALGAMATED FINANCIAL CORP. acquired a new stake in Corporate Office Properties Trust valued at approximately $1,982,000. QUBE RESEARCH & TECHNOLOGIES LTD acquired a new stake in OFC for approximately $1,329,000. BALYASNY ASSET MANAGEMENT LLC purchased a new stake in OFC valued at around $631,000 in the second quarter.
With an opening price of $27.39 on Thursday morning, Corporate Office Properties Trust (NYSE: OFC) set off the trading day. During the past 12 months, Corporate Office Properties Trust has had a low of $22.22 and a high of $29.64. The fifty day moving average price for OFC is $26.53 and a two-hundred day moving average price translates $26.31 for the stock.
The latest earnings results from Corporate Office Properties Trust (NYSE: OFC) was released for Jun, 2022. According to the REIT – Office Company, earnings per share came in at $0.27, missing analysts’ expectations of $0.28 by -0.01. This compares to $0.24 EPS in the same period last year. The company reported revenue of $182.5 million for the quarter, compared to $166.92 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 9.33 percent. For the current quarter, analysts expect OFC to generate $149.93M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 01/17/2023. Investors who held shares on 12/30/2022 were paid a $0.275 dividend. On an annualized basis, this represents a $1.10 dividend and a 3.98% percent yield. There was an ex-dividend date of 12/29/2022 for this dividend.
Corporate Office Properties Trust(OFC) Company Profile
COPT is a REIT that owns, manages, leases, develops and selectively acquires office and data center properties. The majority of its portfolio is 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). The Company also owns a portfolio of office properties located in select urban/urban-like submarkets in the Greater Washington, DC/Baltimore region with durable Class-A office fundamentals and characteristics (Regional Office Properties). As of December 31, 2020, the Company derived 87% of its core portfolio annualized rental revenue from Defense/IT Locations and 13% from its Regional Office Properties. As of the same date and including 17 properties owned through unconsolidated joint ventures, COPT’s core portfolio of 179 office and data center shell properties encompassed 20.8 million square feet and was 95.0% leased; the Company also owned one wholesale data center with a critical load of 19.25 megawatts that was 86.7% leased.
