Corporate Office Properties Trust (OFC) Sees Large Volume Increase
Corporate Office Properties Trust (NYSE:OFC) saw an uptick in trading volume on Wednesday . 1,871,441 shares traded hands during trading, an increase of 186% from the previous session’s volume of 654,464 shares.The stock last traded at $28.52 and had previously closed at $28.63.
A number of research firms recently commented on OFC. BTIG Research began coverage on shares of Corporate Office Properties Trust in a research report on Thursday, August 25th. They set a “buy” rating and a $33.00 target price for the company. KeyCorp cut shares of Corporate Office Properties Trust to a “hold” rating in a research report on Friday, July 15th. Jefferies Group reissued a “hold” rating and set a $27.00 target price on shares of Corporate Office Properties Trust in a research report on Friday, July 29th. Mizuho reissued a “buy” rating and set a $30.00 target price (up previously from $25.00) on shares of Corporate Office Properties Trust in a research report on Thursday, May 5th. Finally, JPMorgan Chase & Co. increased their target price on shares of Corporate Office Properties Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a research report on Monday, August 15th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $28.00.
The firm has a market cap of $2.69 billion and a PE ratio of 28.69. The firm has a 50 day moving average price of $29.17 and a 200-day moving average price of $27.07.
Corporate Office Properties Trust (NYSE:OFC) last announced its quarterly earnings data on Friday, July 29th. The real estate investment trust reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by $0.14. The company had revenue of $145.93 million for the quarter, compared to analysts’ expectations of $116.93 million. The business’s quarterly revenue was down 14.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.52 EPS. Equities research analysts forecast that Corporate Office Properties Trust will post $2.01 EPS for the current fiscal year.
In other Corporate Office Properties Trust news, CAO Greg J. Thor sold 2,085 shares of the business’s stock in a transaction that occurred on Thursday, June 9th. The shares were sold at an average price of $27.56, for a total transaction of $57,462.60. Following the completion of the transaction, the chief accounting officer now owns 16,872 shares in the company, valued at approximately $464,992.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert L. Denton sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $29.49, for a total transaction of $58,980.00. Following the transaction, the director now owns 306,500 shares of the company’s stock, valued at approximately $9,038,685. The disclosure for this sale can be found here.
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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