Wells Fargo Maintains Overweight Rating for Corporate Office Props Tr: Here's What You Need To Know

Wells Fargo has decided to maintain its Overweight rating of Corporate Office Props Tr OFC and raise its price target from $29.00 to $31.00.

Shares of Corporate Office Props Tr are trading down 0.17% over the last 24 hours, at $25.75 per share.

A move to $31.00 would account for a 20.41% increase from the current share price.

About Corporate Office Props Tr

Corporate Office Properties Trust, or COPT, is a real estate investment trust that acquires, manages, and leases office and data center properties throughout the U.S. The majority of the company's real estate portfolio is composed of office buildings in the Baltimore-Washington Corridor and Northern Virginia area. COPT derives nearly all of its income in the form of rental revenue from tenants. Most of the company's revenue comes from the leasing of properties to U.S. Government agencies and its contractors in the national security, defense, and IT sectors, such as Northrop Grumman and Boeing. Regional offices in urban submarkets make also make up a sizable percentage of COPT's total square footage.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.