Truist analysts downgrades a Hold rating for Corporate Office Properties Trust (OFC)

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In a filing, Corporate Office Properties Trust revealed its Director DENTON ROBERT L unloaded Company’s shares for reported $90440.0 on May 17. In the deal valued at $22.95 per share,3,941 shares were sold. As a result of this transaction, DENTON ROBERT L now holds 4,523 shares worth roughly $ 0.12 million.

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Truist downgraded its Corporate Office Properties Trust [OFC] rating to a Hold from a a Buy in a research note published on Tuesday, September 14, 2022; the price target was decreased to $28 from $30. PT values the company’s stock at a premium of 7.39 to its Tuesday closing price.

Price Performance Review of OFC

On Tuesday, Corporate Office Properties Trust [NYSE:OFC] saw its stock fall -0.80% to $25.93. On the same session, the stock had its day’s lowest price of $25.785, but rose to a high of $26.23. Over the last five days, the stock has gained 2.25%. Corporate Office Properties Trust shares have fallen nearly -0.04% since the year began. Nevertheless, the stocks have risen 0.62% over the past one year. While a 52-week high of $28.69 was reached on 02/01/23, a 52-week low of $21.59 was recorded on 03/24/23. SMA at 50 days reached $25.38, while 200 days put it at $25.03. A total of 0.7 million shares were traded, compared to the trading of 0.44 million shares in the previous session.

Levels Of Support And Resistance For OFC Stock

The 24-hour chart illustrates a support level at 25.73, which if violated will result in even more drops to 25.54. On the upside, there is a resistance level at 26.18. A further resistance level may holdings at 26.43. The Relative Strength Index (RSI) on the 14-day chart is 56.54, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.57, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 22.43%. Stochastics %K at 86.29% indicates the stock is a selling.

How much short interest is there in Corporate Office Properties Trust?

A steep rise in short interest was recorded in Corporate Office Properties Trust stocks on Aug 14, 2023, growing by 0.54 million shares to a total of 3.65 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 3.11 million shares. There was a rise of 14.79%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 4.68% of the overall stock float, the days-to-cover ratio (short ratio) rose to 6.17.

Corporate Office Properties Trust [OFC] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 16,339,665 shares, or roughly 14.52% of the outstanding OFC shares. In other words, the investor’s shares have fallen by -376,680 from its previous 13-F filing of 16716345.0. Additionally, BlackRock Fund Advisors increased 6.59% of its stake after which the total value it holdings stand at $384,218,094, while SSgA Funds Management, Inc. reduced -0.26% of its stake to hold $177.07 million in the firm. Over the last quarter, Barrow, Hanley, Mewhinney & Strau sold -748,595 shares of Corporate Office Properties Trust, while EARNEST Partners LLC sold -515,133 shares. At present, Victory Capital Management, Inc. is holding 4,361,763 shares valued at $113.41 million. Fidelity Management & Research Co owned 4,174,484 shares of the company at the time of its most recent 13F filing, worth $108.54 million.


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