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Corporate Office Properties Trust , the Columbia, MD-based office real estate investment trust (“REIT”) announced its fourth-quarter 2016 dispositions. During the quarter, the company sold suburban office assets and non-strategic land worth $54.1 million.
Corporate Office Properties mainly focuses on ownership, management, leasing, acquisition and development of suburban office buildings located in select submarkets in the Mid-Atlantic region of the U.S. During the quarter, the company sold around 450,000 square feet of suburban office properties, and these properties were 71% occupied. Also, it sold two non-strategic lands totaling 107 acres during the same time frame. In full-year 2016, the company sold operating properties totaling 1.6 million square feet and land worth $344 million.
Shares of Corporate Office Properties outperformed the Zacks categorized REIT and Equity Trust - Other industry, over the past one year. During the same time span, shares of the company grew 46.7%, whereas the industry gained 8.8%.
Corporate Office Properties currently carries a Zacks Rank # 3 (Hold).
AGNC Investment’s 2016 estimates have moved up 2.6% to $2.36 per share, over the past 60 days.
Seritage Growths’ 2016 estimates have moved up 0.9% to $2.34 per share, over the past 60 days.
Brandywine Realty’s 2016 estimates have remained unchanged at $1.29 per share, over the past 60 days.
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Corporate Office Properties (OFC) Discloses Q4 Dispositions
Corporate Office Properties Trust , the Columbia, MD-based office real estate investment trust (“REIT”) announced its fourth-quarter 2016 dispositions. During the quarter, the company sold suburban office assets and non-strategic land worth $54.1 million.
Corporate Office Properties mainly focuses on ownership, management, leasing, acquisition and development of suburban office buildings located in select submarkets in the Mid-Atlantic region of the U.S. During the quarter, the company sold around 450,000 square feet of suburban office properties, and these properties were 71% occupied. Also, it sold two non-strategic lands totaling 107 acres during the same time frame. In full-year 2016, the company sold operating properties totaling 1.6 million square feet and land worth $344 million.
Shares of Corporate Office Properties outperformed the Zacks categorized REIT and Equity Trust - Other industry, over the past one year. During the same time span, shares of the company grew 46.7%, whereas the industry gained 8.8%.
Corporate Office Properties currently carries a Zacks Rank # 3 (Hold).
Some better-ranked stocks in the real estate space include AGNC Investment Corp. (AGNC - Free Report) , Seritage Growth Properties (SRG - Free Report) and Brandywine Realty Trust (BDN - Free Report) . All these stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
AGNC Investment’s 2016 estimates have moved up 2.6% to $2.36 per share, over the past 60 days.
Seritage Growths’ 2016 estimates have moved up 0.9% to $2.34 per share, over the past 60 days.
Brandywine Realty’s 2016 estimates have remained unchanged at $1.29 per share, over the past 60 days.
Zacks’ Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn’t? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>