KBW Has Outperform On Corporate Office Properties Trust Inc. (OFC)

KBW has an Outperform rating and a $41 price target on shares of Corporate Office Properties Trust Inc. OFC. In a note to clients, KBW writes, "OFC announced what appears to be a final resolution on Fort Ritchie - writing the asset to zero via a non-cash impairment of $28 million ($0.39 per share). As a result, OFC issued adjusted guidance to incorporate the impairment - we are adjusting our 2011 estimate as result. The announcement should not be a complete surprise - OFC has indicated environmental issues recently disclosed by the Army." Shares of OFC gained 38 cents yesterday to close at $36.21, a gain of over 1%.