Massachusetts Financial Services Co. MA Boosts Holdings in Corporate Office Properties Trust (OFC)

Massachusetts Financial Services Co. MA boosted its position in shares of Corporate Office Properties Trust (NYSE:OFC) by 17.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 538,009 shares of the real estate investment trust’s stock after buying an additional 80,496 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.52% of Corporate Office Properties Trust worth $16,049,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. FMR LLC lifted its holdings in Corporate Office Properties Trust by 37.5% during the 2nd quarter. FMR LLC now owns 12,387,646 shares of the real estate investment trust’s stock worth $359,119,000 after buying an additional 3,378,017 shares in the last quarter. BlackRock Inc. lifted its holdings in Corporate Office Properties Trust by 1.6% during the 2nd quarter. BlackRock Inc. now owns 11,543,460 shares of the real estate investment trust’s stock worth $334,647,000 after buying an additional 187,322 shares in the last quarter. Frontier Capital Management Co. LLC lifted its holdings in Corporate Office Properties Trust by 41.4% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 2,687,662 shares of the real estate investment trust’s stock worth $77,915,000 after buying an additional 786,333 shares in the last quarter. Northern Trust Corp lifted its holdings in Corporate Office Properties Trust by 7.4% during the 2nd quarter. Northern Trust Corp now owns 1,816,875 shares of the real estate investment trust’s stock worth $52,671,000 after buying an additional 124,452 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Corporate Office Properties Trust by 1.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,605,421 shares of the real estate investment trust’s stock worth $46,541,000 after buying an additional 18,339 shares in the last quarter.

Shares of Corporate Office Properties Trust stock opened at $26.34 on Tuesday. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of 12.98, a price-to-earnings-growth ratio of 2.90 and a beta of 0.75. Corporate Office Properties Trust has a 52 week low of $24.55 and a 52 week high of $32.76. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.92 and a quick ratio of 1.98.

Corporate Office Properties Trust (NYSE:OFC) last issued its earnings results on Thursday, October 25th. The real estate investment trust reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. The company had revenue of $137.41 million during the quarter, compared to analysts’ expectations of $129.45 million. Corporate Office Properties Trust had a net margin of 10.78% and a return on equity of 4.30%. As a group, sell-side analysts forecast that Corporate Office Properties Trust will post 2.01 EPS for the current year.

In related news, Director David M. Jacobstein sold 2,500 shares of the company’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $30.64, for a total value of $76,600.00. Following the completion of the sale, the director now owns 9,591 shares in the company, valued at approximately $293,868.24. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert L. Denton sold 3,000 shares of the company’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $29.97, for a total transaction of $89,910.00. Following the completion of the sale, the director now owns 3,458 shares of the company’s stock, valued at approximately $103,636.26. The disclosure for this sale can be found here. 0.60% of the stock is owned by corporate insiders.

Several brokerages have commented on OFC. Zacks Investment Research cut shares of Corporate Office Properties Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, July 11th. Stifel Nicolaus reiterated a “sell” rating and set a $25.00 target price on shares of Corporate Office Properties Trust in a research report on Friday, July 27th. Bank of America dropped their target price on shares of Corporate Office Properties Trust from $34.00 to $31.00 and set a “buy” rating for the company in a research report on Monday, October 29th. Robert W. Baird reiterated a “hold” rating and set a $29.00 target price on shares of Corporate Office Properties Trust in a research report on Wednesday, August 8th. Finally, Wells Fargo & Co reiterated a “hold” rating on shares of Corporate Office Properties Trust in a research report on Wednesday, August 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $30.00.

TRADEMARK VIOLATION NOTICE: “Massachusetts Financial Services Co. MA Boosts Holdings in Corporate Office Properties Trust (OFC)” was first posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this piece on another domain, it was copied illegally and reposted in violation of U.S. and international trademark & copyright law. The original version of this piece can be read at https://www.dispatchtribunal.com/2018/11/06/massachusetts-financial-services-co-ma-boosts-holdings-in-corporate-office-properties-trust-ofc.html.

About Corporate Office Properties Trust

COPT is a REIT that owns, manages, leases, develops and selectively acquires office and data center properties in locations that support the United States Government and its contractors, most of whom are engaged in national security, defense and information technology (“IT”) related activities servicing what it believes are growing, durable, priority missions (“Defense/IT Locations”).

Featured Article: Marijuana Stocks Future Looks Bright

Institutional Ownership by Quarter for Corporate Office Properties Trust (NYSE:OFC)

Receive News & Ratings for Corporate Office Properties Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corporate Office Properties Trust and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply