As reported by Benzinga on Tuesday, investment analysts at Wells Fargo & Company lowered their price objective for Corporate Office Properties Trust (NYSE: OFC) from $30.00 to $29.00. The pricing goal had been set previously at $30.00. After having previously assigned a rating of “neutral” to the shares of the real estate investment trust, the business has now designated them as “overweight,” having done so for the first time.
The potential gain in a value represented by the target price for Wells Fargo & Company is 9.68% compared to the stock’s most recent closing price. Several other equity research analysts have also conducted studies using the company’s share price as the primary focus of their work. In a research report dated Thursday, June 30th, Truist Financial lowered its price goal on shares of Corporate Office Properties Trust from $33.00 to $30.00 and assigned the stock a “buy” rating in a research report dated June 30th. The research team also suggested “buying” the company’s stock in their conclusion. In a research note published on June 30th, Jefferies Financial Group lowered their “hold” rating and their price objective on Corporate Office Properties Trust shares from $29.00 to $24.00.
The new price objective was also lower than the previous one. The revised price target was also set at a lower level.
The “buy” recommendation that Bloomberg had previously assigned to Corporate Office Properties Trust shares was downgraded to a “sell” rating in a research note published on Friday, August 5th. The last and most significant modification was made here. There have been four different financial analysts who have given the business buy ratings, one who has given it a hold rating, and two who have recommended selling the shares. The average recommendation for the firm is “Hold,” and the price target for the company, as determined by most market participants, is set at $27.60. These numbers originate from Bloomberg, which may be found online. The first day of trading for OFC shares was on Tuesday, and the opening price for each share was $26.44.
This business has a market capitalization of $2.97 billion, a price-to-earnings ratio of 22.60, and a beta value of 0.92. The company’s prices have moved toward an average of $26.76 and $27.00 during the past fifty and two hundred days, respectively. The debt-to-equity ratio is currently at 1.28, the current ratio is 1.46, and the quick ratio is also 1.46. During the past year, the price of a share of Corporate Office Properties Trust has moved between a low of $23.89 and a high of $29.64.
Over the previous few months, several hedge funds and other forms of institutional investors have adjusted how they are currently invested in OFC. Point72 Hong Kong Ltd. purchased shares in Corporate Office Properties Trust amounting to 26,000 Hong Kong dollars during the second quarter of the fiscal year.
Lazard Asset Management LLC spent $27,000 purchasing Corporate Office Properties Trust shares during the second quarter of the year. The purchase of shares in Corporate Office Properties Trust required Riverview Trust Company to make a total payment of $28,000 during the year’s first three months. EverSource Wealth Advisors LLC spent $31,000 during the fiscal year’s second quarter, purchasing shares of Corporate Office Properties Trust. This transaction took place during the company’s second fiscal quarter.
Last but not least, Pinebridge Investments L.P. increased its holdings of the publicly traded stock Corporate Office Properties Trust by 322.8 percent during the second quarter. After purchasing an additional 1,291 shares during the most recent quarter, Pinebridge Investments L.P. now owns 1,691 shares of the real estate investment trust, with a value of $44,000. It brings the total number of shares directly owned by the company to 1,691.
The creation, building, leasing, and ownership of office and data center facilities are all handled by the real estate investment trust known as COPT. The majority of its portfolio is concentrated on business areas that are of benefit to the government of the United States and the contractors who work for it. The overwhelming majority of these contractors are involved in undertakings categorized as belonging to national security, defense, and information technology (I.T.). It is done to support what the corporation considers developing, long-term missions that are of the utmost importance (Defense/I.T. Locations).