Large Inflow of Money Detected in Corporate Office Properties Trust

Corporate Office Properties Trust (OFC) : Wednesdays money flow points at investors jumping to buy the stock on the weakness of price. $9.97 million worth of transactions were on upticks, whereas, the downticks accounted for $3.22 million worth of transactions. The net money flow was a positive $6.75 million and the uptick to downtick ratio was 3.1. The net money flow into the stock was $7.36 million. The lack of interest in trading on downticks shows that the investors dont want to sell their holdings. The upticks accounted for $7.36 million of the total block trades, indicating continued buying interest on weakness, which bodes well for the future of the stock. Corporate Office Properties Trust (OFC) was trading at $29.16, down $0.14 during day. The stock slid -0.48% over the previous days close. For the week, the stock recorded -0.24% over the previous weeks close.


Also, Major Brokerage house, Credit Suisse upgrades its ratings on Corporate Office Properties Trust (NYSE:OFC). In the latest research report, Credit Suisse raises the target price from $23.5 per share to $29 per share. According to the latest information available, the shares are now rated Outperform by the analysts at the agency. Previously, the analysts had a Neutral rating on the shares. The rating by the firm was issued on April 12, 2016.

Corporate Office Properties Trust (NYSE:OFC): The stock opened at $29.30 on Wednesday but the bulls could not build on the opening and the stock topped out at $29.36 for the day. The stock traded down to $29.09 during the day, due to lack of any buying support eventually closed down at $29.16 with a loss of -0.48% for the day. The stock had closed at $29.30 on the previous day. The total traded volume was 967,505 shares.

The stock has recorded a 20-day Moving Average of 0.54% and the 50-Day Moving Average is 5.52%. In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (SVP–CAO & Controller) of Corporate Office Properties Trust, Thor Greg J had sold 2,085 shares worth of $57,463 in a transaction dated June 9, 2016. In this transaction, 2,085 shares were sold at $27.56 per share.

Corporate Office Properties Trust (COPT) is an integrated self-managed real estate investment trust (REIT). Corporate Office Properties, L.P. (COPLP) and subsidiaries (collectively the Operating Partnership) is the entity through which COPT, the sole general partner of COPLP, conducts all of its operations and owns almost all of its assets. The Company has 10 reportable operating office property segments (comprising the Baltimore/Washington Corridor; Northern Virginia; San Antonio; Huntsville; Washington, DC – Capitol Riverfront; St. Marys and King George Counties; Greater Baltimore; Greater Philadelphia; Colorado Springs; and Other). It also has an operating wholesale data center segment. The Company operates in two industries: commercial office properties and wholesale data center. The Company acquires, develop, manage and lease office, and data center properties concentrated in office parks located in the Greater Washington, DC/Baltimore region.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.