Market Overview

UPDATE: JP Morgan Upgrades Corporate Office Properties to Neutral on New Leases, Risk Improvement

Share:
Related OFC
Credit Suisse On REIT Stocks: NYC/East Coast Will Outperform West Coast
Earnings Scheduled For February 12, 2016

JP Morgan raised its rating on Corporate Office Properties (NYSE: OFC) from Underweight to Neutral with a reiterated $23 price target.

JP Morgan commented, "We are upgrading our rating to Neutral from Underweight on the heels of OFC leasing 115k SF at its development at 7205 Riverwood Road and the stock's underperformance YTD (+12.5% vs. the +19.4% group average). While these items alone are not entirely the catalyst, they are part of a number of items that when taken together suggest to us that the worst is behind the OFC story. The company has right-sized its dividend, continues to reduce leasing risk, and has made substantial progress in its strategic reallocation plan."

Corporate Office Properties closed at $23.34 on Monday.

Latest Ratings for OFC

DateFirmActionFromTo
Aug 2016BTIG ResearchInitiates Coverage onBuy
Aug 2016JP MorganMaintainsNeutral
Apr 2016Credit SuisseUpgradesNeutralOutperform

View More Analyst Ratings for OFC
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Upgrades Intraday Update Analyst Ratings

 

Related Articles (OFC)

View Comments and Join the Discussion!