Wells Fargo Sticks to Their Hold Rating for Office Properties Trust (OFC)


In a report released today, Blaine Heck from Wells Fargo maintained a Hold rating on Office Properties Trust (NYSE: OFC). The company’s shares opened today at $29.91.

According to TipRanks.com, Heck is a 2-star analyst with an average return of 3.9% and a 75.0% success rate. Heck covers the Financial sector, focusing on stocks such as Highwoods Properties, Cousins Properties, and Marcus & Millichap.

Currently, the analyst consensus on Office Properties Trust is a Hold with an average price target of $30.50, implying a 2.0% upside from current levels. In a report issued on August 5, Mizuho Securities also reiterated a Hold rating on the stock with a $31 price target.

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Based on Office Properties Trust’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $19.34 million. In comparison, last year the company had a net profit of $17.73 million.

Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is negative on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Corporate Office Properties Trust, Inc. is a real estate investment trust. It acquires, develops, manages, sells, and leases out office properties. The firm operates through the following segments: Defense/Information Technology Locations, Regional Office, Wholesale Data Center, and Other. The company was founded in 1988 and is headquartered in Columbia, MD.

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