In a report issued on April 30, Steve Sakwa from Evercore ISI maintained a Buy rating on Corporate Office Properties (OFC), with a price target of $30.00. The company’s shares closed last Friday at $28.04, close to its 52-week high of $28.93.
According to TipRanks.com, Sakwa is a 2-star analyst with an average return of 1.1% and a 57.3% success rate. Sakwa covers the Financial sector, focusing on stocks such as Eastgroup Properties, Brandywine Realty, and Boston Properties.
Currently, the analyst consensus on Corporate Office Properties is a Strong Buy with an average price target of $31.00, implying a 10.7% upside from current levels. In a report issued on April 29, Raymond James also maintained a Buy rating on the stock.
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Based on Corporate Office Properties’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $164 million and net profit of $81.67 million. In comparison, last year the company earned revenue of $158 million and had a net profit of $42.79 million.
Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of OFC in relation to earlier this year.
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Corporate Office Properties Trust, Inc. is a real estate investment trust, which acquires, develops, manages, sells, and leases out office properties and data centers. 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.