Corporate Office Properties Trust [NYSE: OFC] closed the trading session at $27.99 on 06/30/21. The day’s price range saw the stock hit a low of $27.0505, while the highest price level was $28.01. The company report on June 22, 2021 that COPT Executes Major Pre-Leases with Defense Contractor at Redstone Gateway.
Nearly 180,000 SF Scheduled for Lease Commencement in 1Q23.
Corporate Office Properties Trust (“COPT” or the “Company”) (NYSE: OFC) executed two leases totaling 178,500 square feet at Redstone Gateway with a defense contractor that provides information assurance, enterprise solutions, and technology modernization services to the U.S. Government. The defense contractor will consolidate from multiple existing Huntsville facilities into two new developments COPT will construct for $65 million. The defense contractor will occupy 90% of a 172,500 square foot office building and roughly half of a 45,000 square foot R&D facility. Both projects are scheduled for shell completion in the fourth quarter of 2022, with lease commencement dates expected in the first quarter of 2023.
The stocks have a year to date performance of 7.32 percent and weekly performance of -0.78 percent. The stock has been moved at 8.36 percent over the last six months. The stock has performed 0.29 percent around the most recent 30 days and changed 6.30 percent over the most recent 3-months.
If compared to the average trading volume of 1.11M shares, OFC reached to a volume of 2489038 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Corporate Office Properties Trust [OFC]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OFC shares is $31.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OFC stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Truist have made an estimate for Corporate Office Properties Trust shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 15, 2021. While these analysts kept the previous recommendation, Mizuho raised their target price from $27 to $30. The new note on the price target was released on January 11, 2021, representing the official price target for Corporate Office Properties Trust stock. Previously, the target price had yet another raise from $24 to $30, while Citigroup kept a Buy rating on OFC stock. On December 10, 2020, analysts increased their price target for OFC shares from 26 to 30.
The Average True Range (ATR) for Corporate Office Properties Trust is set at 0.66, with the Price to Sales ratio for OFC stock in the period of the last 12 months amounting to 5.12. The Price to Book ratio for the last quarter was 1.93, with the Price to Cash per share for the same quarter was set at 0.32. Price to Free Cash Flow for OFC in the course of the last twelve months was 48.55.
OFC stock trade performance evaluation
Corporate Office Properties Trust [OFC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.78. With this latest performance, OFC shares gained by 0.29% in over the last four-week period, additionally plugging by 8.36% over the last 6 months – not to mention a rise of 10.46% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for OFC stock in for the last two-week period is set at 46.50, with the RSI for the last a single of trading hit 44.73, and the three-weeks RSI is set at 48.24 for Corporate Office Properties Trust [OFC]. The present Moving Average for the last 50 days of trading for this stock 28.12, while it was recorded at 27.78 for the last single week of trading, and 26.35 for the last 200 days.
Corporate Office Properties Trust [OFC]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Corporate Office Properties Trust [OFC] shares currently have an operating margin of +26.63 and a Gross Margin at +32.97. Corporate Office Properties Trust’s Net Margin is presently recorded at +13.52.
Return on Total Capital for OFC is now 4.37, given the latest momentum, and Return on Invested Capital for the company is 2.26. Return on Equity for this stock inclined to 4.93, with Return on Assets sitting at 2.08. When it comes to the capital structure of this company, Corporate Office Properties Trust [OFC] has a Total Debt to Total Equity ratio set at 127.49. Additionally, OFC Total Debt to Total Capital is recorded at 56.04, with Total Debt to Total Assets ending up at 51.94. Long-Term Debt to Equity for the company is recorded at 127.25, with the Long-Term Debt to Total Capital now at 55.94.
Reflecting on the efficiency of the workforce at the company, Corporate Office Properties Trust [OFC] managed to generate an average of $202,904 per employee. Receivables Turnover for the company is 2.24 with a Total Asset Turnover recorded at a value of 0.15.
Earnings per share (EPS) analysis for Corporate Office Properties Trust [OFC] stock
With the latest financial reports released by the company, Corporate Office Properties Trust posted 0.21/share EPS, while the average EPS was predicted by analysts to be reported at 0.22/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -4.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for OFC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Corporate Office Properties Trust go to 8.20%.
Corporate Office Properties Trust [OFC]: Insider Ownership positions
There are presently around $3,106 million, in the hands of institutional investors. The top three institutional holders of OFC stocks are: VANGUARD GROUP INC with ownership of 15,957,034, which is approximately 2.455% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 12,774,891 shares of the stock with an approximate value of $357.57 million in OFC stocks shares; and FMR LLC, currently with $166.73 million in OFC stock with ownership of nearly -8.608% of the company’s market capitalization.
Positions in Corporate Office Properties Trust stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 139 institutional holders increased their position in Corporate Office Properties Trust [NYSE:OFC] by around 12,287,035 shares. Additionally, 122 investors decreased positions by around 12,600,632 shares, while 32 investors held positions by with 86,087,242 shares. The mentioned changes placed institutional holdings at 110,974,909 shares, according to the latest SEC report filing. OFC stock had 44 new institutional investments in for a total of 4,548,962 shares, while 30 institutional investors sold positions of 1,342,595 shares during the same period.