Corporate Office Properties Trust (OFC) Sees Unusually-High Trading Volume
Corporate Office Properties Trust (NYSE:OFC) saw an uptick in trading volume on Friday . 780,420 shares changed hands during trading, an increase of 10% from the previous session’s volume of 709,730 shares.The stock last traded at $29.50 and had previously closed at $28.92.
Several brokerages have commented on OFC. Credit Suisse Group AG raised Corporate Office Properties Trust from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $23.50 to $29.00 in a research report on Tuesday, April 12th. Evercore ISI raised their price target on Corporate Office Properties Trust to $25.00 in a report on Monday, March 21st. Finally, Mizuho restated a “buy” rating and set a $30.00 price target (up from $25.00) on shares of Corporate Office Properties Trust in a report on Thursday, May 5th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $26.30.
The company has a 50 day moving average of $27.81 and a 200-day moving average of $25.06. The firm has a market capitalization of $2.76 billion and a P/E ratio of 17.61.
Corporate Office Properties Trust (NYSE:OFC) last announced its quarterly earnings data on Friday, April 29th. The real estate investment trust reported $0.47 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.47. During the same period last year, the company earned $0.45 EPS. The business earned $144.30 million during the quarter, compared to the consensus estimate of $113.83 million. The business’s revenue was down 10.4% compared to the same quarter last year. Analysts predict that Corporate Office Properties Trust will post $2.00 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.75%. The ex-dividend date is Tuesday, June 28th.
In other Corporate Office Properties Trust news, Director Robert L. Denton sold 3,007 shares of the company’s stock in a transaction on Monday, May 9th. The stock was sold at an average price of $26.80, for a total value of $80,587.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David M. Jacobstein sold 1,500 shares of the company’s stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $26.99, for a total value of $40,485.00. Following the completion of the sale, the director now owns 11,167 shares of the company’s stock, valued at $301,397.33. The disclosure for this sale can be found here.
Several large investors have recently modified their holdings of the company. RidgeWorth Capital Management LLC boosted its stake in shares of Corporate Office Properties Trust by 1,102,512.2% in the fourth quarter. RidgeWorth Capital Management LLC now owns 2,260,355 shares of the real estate investment trust’s stock valued at $49,967,000 after buying an additional 2,260,150 shares in the last quarter. Neuberger Berman Group LLC purchased a new stake in shares of Corporate Office Properties Trust during the fourth quarter valued at $6,128,000. Vanguard Group Inc. boosted its stake in shares of Corporate Office Properties Trust by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 13,611,245 shares of the real estate investment trust’s stock valued at $297,134,000 after buying an additional 245,090 shares in the last quarter. American Century Companies Inc. purchased a new stake in shares of Corporate Office Properties Trust during the fourth quarter valued at $5,256,000. Finally, Morgan Stanley boosted its stake in shares of Corporate Office Properties Trust by 9.4% in the fourth quarter. Morgan Stanley now owns 2,345,076 shares of the real estate investment trust’s stock valued at $51,193,000 after buying an additional 202,147 shares in the last quarter.
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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