Rhumbline Advisers decreased its position in shares of Corporate Office Properties Trust (NYSE:OFC) by 3.4% during the third quarter, HoldingsChannel.com reports. The fund owned 196,512 shares of the real estate investment trust’s stock after selling 6,859 shares during the quarter. Rhumbline Advisers’ holdings in Corporate Office Properties Trust were worth $5,862,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Qube Research & Technologies Ltd purchased a new stake in Corporate Office Properties Trust during the 2nd quarter valued at approximately $123,000. Private Advisor Group LLC purchased a new stake in Corporate Office Properties Trust during the 3rd quarter valued at approximately $210,000. Nissay Asset Management Corp Japan ADV purchased a new stake in Corporate Office Properties Trust during the 3rd quarter valued at approximately $211,000. NN Investment Partners Holdings N.V. purchased a new stake in Corporate Office Properties Trust during the 3rd quarter valued at approximately $234,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Corporate Office Properties Trust during the 2nd quarter valued at approximately $251,000. Institutional investors own 96.76% of the company’s stock.
In other Corporate Office Properties Trust news, CEO Stephen E. Budorick bought 4,023 shares of the business’s stock in a transaction that occurred on Monday, November 19th. The stock was purchased at an average cost of $24.90 per share, with a total value of $100,172.70. Following the completion of the acquisition, the chief executive officer now owns 110,528 shares in the company, valued at approximately $2,752,147.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders purchased 5,160 shares of company stock valued at $131,367. 0.60% of the stock is currently owned by insiders.
OFC stock opened at $24.16 on Thursday. Corporate Office Properties Trust has a fifty-two week low of $24.09 and a fifty-two week high of $31.01. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $2.63 billion, a P/E ratio of 11.90, a price-to-earnings-growth ratio of 2.66 and a beta of 0.78.
Corporate Office Properties Trust (NYSE:OFC) last posted its earnings results on Thursday, October 25th. The real estate investment trust reported $0.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.18. Corporate Office Properties Trust had a net margin of 10.78% and a return on equity of 4.30%. The firm had revenue of $137.41 million during the quarter, compared to analyst estimates of $129.45 million. Analysts predict that Corporate Office Properties Trust will post 2.01 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 31st will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date of this dividend is Friday, December 28th. Corporate Office Properties Trust’s dividend payout ratio (DPR) is presently 54.19%.
OFC has been the subject of a number of research analyst reports. Bank of America cut their price objective on shares of Corporate Office Properties Trust from $34.00 to $31.00 and set a “buy” rating for the company in a report on Monday, October 29th. Wells Fargo & Co reaffirmed a “hold” rating on shares of Corporate Office Properties Trust in a report on Wednesday, August 15th. Robert W. Baird reaffirmed a “hold” rating and set a $29.00 price objective on shares of Corporate Office Properties Trust in a report on Wednesday, August 8th. Finally, ValuEngine lowered shares of Corporate Office Properties Trust from a “hold” rating to a “sell” rating in a report on Friday, November 16th. Two equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $29.50.
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Corporate Office Properties Trust Company Profile
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).
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