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UPDATE: J.P. Morgan Reiterates Neutral Rating, Raises PT on Corporate Office Properties Trust

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In a report published Wednesday, J.P. Morgan & Co. reiterated its Neutral rating on Corporate Office Properties Trust (NYSE: OFC), and raised its price target from $23.00 to $27.00.

J.P. Morgan noted, “We are updating our model to reflect OFC's recent $205 million equity offering. We are lowering our 2012 FFO estimate $0.01, to $2.07. Note that our new full year estimate of $2.07 is towards the upper end of management's $2.02-2.08 guidance (based on the NAREIT definition - i.e. including a $0.01 debt extinguishment gain, a $0.01 gain on non-operating properties, and a $0.02 preferred redemption charge).”

Corporate Office Properties Trust closed on Tuesday at $25.55.

Latest Ratings for OFC

DateFirmActionFromTo
Nov 2014Credit SuisseInitiates Coverage onUnderperform
Oct 2014JP MorganMaintainsNeutral
Sep 2014Capital One FinancialInitiates Coverage onOverweight

View More Analyst Ratings for OFC
View the Latest Analyst Ratings

Posted-In: J.P. Morgan & Co.Analyst Color Price Target Analyst Ratings

 

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