Corporate Office Property Trust (NYSE:OFC – Get Rating) has an average ‘hold’ rating from the seven brokerage firms that cover the stock, MarketBeat Ratings reports. One research analyst gave a sell rating, three gave a hold rating, and two gave a buy rating. The average 12-month price target for brokers who covered equities last year is $26.80.
A number of equity analysts have recently commented on OFC shares. Wells Fargo & Company raised its price target on the corporate office property trust from $26.00 to $29.00 and gave it an “overweight” rating in its report on Tuesday, November 22nd. Truist Financial downgraded Corporate Office Properties Trust’s rating from ‘buy’ to ‘hold’ and lowered the company’s price target from $30.00 to $28.00 in a research note on Wednesday, Sept. 14. They noted that the move was an evaluation call. JPMorgan Chase & Company lowered its corporate office properties trust price target to $29.00 in a research note on Thursday, December 1. Finally, StockNews.com upgraded the Corporate Office Property Trust from a ‘sell’ rating to a ‘pending’ rating in his Tuesday, Dec. 6 research note.
Institutional investors value trust in corporate office properties
Larger investors have recently added or reduced their stake in the company. Millennium Management LLC increased its Corporate Office Property Trust position by 155.3% in the second quarter. Millennium Management LLC now owns 1,901,739 real estate investment trust shares worth $49,807,000 after purchasing an additional 1,156,923 of his shares last quarter. Lazard Asset Management LLC purchased new shares of Corporate Office Properties Trust in the second quarter for approximately $27,000. Bank of Nova Scotia purchased new shares in Corporate Office Properties Trust for approximately $918,000 in the second quarter. Edgestream Partners LP increased its corporate office property trust position by 32.9% in the second quarter. Edgestream Partners LP now owns 38,629 real estate investment trust shares valued at $1,012,000 after purchasing an additional 9,566 shares last quarter. Finally, MetLife Investment Management LLC increased its Corporate Office Property Trust position by 37.1% in the first quarter. MetLife Investment Management LLC now owns 129,998 real estate investment trust shares valued at $3,710,000 after purchasing an additional 35,205 shares in the previous quarter.
Corporate Office Property Trust Price Performance
Corporate Office Property Trust shares opened Thursday at $26.32. The Corporate Office Properties Trust has a one-year low of $22.22 and a one-year high of $29.64. His 50-day moving average price for this business is $25.85 and his 200-day moving average price is $26.10. The company has a debt to equity ratio of 1.33, a current ratio of 1.78 and a quick ratio of 1.78. The company has a market capitalization of $2.96 billion, a P/E ratio of 21.93 and a beta of 0.98.
Notice of Corporate Office Property Trust Dividend
The company recently announced a quarterly dividend payable on Tuesday, January 17th. Shareholders of record on Friday, December 30 will receive a dividend of $0.275 per share. The ex-dividend date is Thursday, December 29. This represents his $1.10 dividend and his 4.18% yield on an annual basis. Corporate Office Property Trust payout ratio is 91.67%.
About Corporate Office Properties Trust
COPT is a REIT that owns, manages, leases, develops and selectively acquires office and data center assets. A significant portion of its portfolio is located in support of the U.S. government and its contractors, most of which are engaged in national security, defense, and information technology (IT) related activities, growing and enduring and high priority missions (defence/defense/IT locations).
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