Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Corporate Office Properties Trust shares valued at $91,360 were sold by DENTON ROBERT L on May 18. At $26.74 per share, DENTON ROBERT L sold 3,416 shares. The insider’s holdings dropped to 3,941 shares worth approximately $99076.74 following the completion of this transaction.
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Also, Thor Greg J sold 2,000 shares, netting a total of over 58,702 in proceeds. Following the sale of shares at $29.35 each, the insider now holds 18,096 shares.
Before that, Thor Greg J had sold 2,333 shares from its account. In a trade valued at $67,157, the SVP–CAO & CONTROLLER traded Corporate Office Properties Trust shares for $28.79 each. Upon closing the transaction, the insider’s holdings decreased to 2,333 shares, worth approximately $0.51 million.
As published in a research note from Truist on September 14, 2022, Corporate Office Properties Trust [OFC] has been rated down from a Buy to a Hold and the price target has been revised to $28 from $30. This represents a 10.21% premium over Wednesday’s closing price. Analysts at Evercore ISI downgraded the stock from ‘”an Outperform”‘ to ‘”an In-line”‘ outlook in a report released in late June. As of January 13, 2022, KeyBanc Capital Markets has decreased its “Sector weight” rating to a “an Underweight” for OFC. Earlier on January 10, 2022, Jefferies downgraded its rating. Their new recommendation was “a Hold” for OFC stock which previously was a “a Buy”.
Analyzing OFC’s Price Performance
On Wednesday, Corporate Office Properties Trust [NYSE: OFC] plunged -1.99% to $25.14. The stock’s lowest price that day was $25.13, but it reached a high of $26.04 in the same session. During the last five days, there has been a drop of approximately -1.30%. Over the course of the year, Corporate Office Properties Trust shares have dropped approximately -10.12%. Shares of the company reached a 52-week high of $29.64 on 03/29/22 and a 52-week low of $23.89 on 01/28/22. A 50-day SMA is recorded $26.56, while a 200-day SMA reached $26.90. Nevertheless, trading volume fell to 1.03 million shares from 0.67 million shares the previous day.
Support And Resistance Levels for Corporate Office Properties Trust (OFC)
According to the 24-hour chart, there is a support level at 24.83, which, if violated, would cause prices to drop to 24.53. In the upper region, resistance lies at 25.74. The next price resistance is at 26.35. RSI (Relative Strength Index) is 40.26 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.24, which suggests the price will decrease in the coming days. Percent R is at 76.71%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Corporate Office Properties Trust subject to short interest?
Stocks of Corporate Office Properties Trust saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.8 million shares to 5.19 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 5.99 million shares. A decline of -15.41% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.68 of the overall float, the days-to-cover ratio (short ratio) decline to 5.68.
Which companies own the most shares of Corporate Office Properties Trust (OFC)?
According to The Vanguard Group, Inc. filings, the company currently owns 16,340,529 shares, which is about 14.54% of the total OFC shares outstanding. The investor’s shares have plunged by -84,877 from its previous 13-F filing of 16425406.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $354,955,449. Barrow, Hanley, Mewhinney & Strau acquire a 39.58% interest valued at $183.35 million while SSgA Funds Management, Inc. sold a -89,050 stake. A total of 81,676 shares of Corporate Office Properties Trust were sold by EARNEST Partners LLC during the quarter, and -963,381 were sold by Fidelity Management & Research Co. In its current portfolio, Victory Capital Management, Inc. holds 4,728,268 shares valued at $122.18 million.
In terms of Corporate Office Properties Trust share price expectations, FactSet research, analysts set an average price target of $30.75 in the next 12 months, up nearly 20.86% from the previous closing price of $25.65. Analysts anticipate Corporate Office Properties Trust stock to reach $34.00 by 2022, with the lowest price target being $26.00. In spite of this, 12 analysts ranked Corporate Office Properties Trust stock as an Overweight at the end of 2022.