Corporate Office Properties Trust (OFC) Shares Sold by First Mercantile Trust Co.

First Mercantile Trust Co. lowered its holdings in Corporate Office Properties Trust (NYSE:OFC) by 6.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 22,485 shares of the real estate investment trust’s stock after selling 1,524 shares during the period. First Mercantile Trust Co.’s holdings in Corporate Office Properties Trust were worth $614,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Teachers Advisors LLC increased its position in Corporate Office Properties Trust by 3.8% during the 3rd quarter. Teachers Advisors LLC now owns 138,389 shares of the real estate investment trust’s stock worth $4,128,000 after buying an additional 5,039 shares during the period. Vanguard Group Inc increased its position in Corporate Office Properties Trust by 1.6% during the 3rd quarter. Vanguard Group Inc now owns 14,929,426 shares of the real estate investment trust’s stock worth $445,345,000 after buying an additional 236,834 shares during the period. Retirement Systems of Alabama increased its position in Corporate Office Properties Trust by 5.8% during the 4th quarter. Retirement Systems of Alabama now owns 141,138 shares of the real estate investment trust’s stock worth $2,968,000 after buying an additional 7,690 shares during the period. State of Alaska Department of Revenue increased its position in Corporate Office Properties Trust by 1.9% during the 4th quarter. State of Alaska Department of Revenue now owns 44,829 shares of the real estate investment trust’s stock worth $941,000 after buying an additional 829 shares during the period. Finally, Louisiana State Employees Retirement System increased its position in Corporate Office Properties Trust by 2.1% during the 4th quarter. Louisiana State Employees Retirement System now owns 28,900 shares of the real estate investment trust’s stock worth $608,000 after buying an additional 600 shares during the period. Institutional investors and hedge funds own 95.83% of the company’s stock.

Several research analysts have weighed in on OFC shares. KeyCorp cut Corporate Office Properties Trust from a “sector weight” rating to an “underweight” rating and set a $23.00 price objective on the stock. in a research report on Tuesday, April 23rd. Zacks Investment Research cut Corporate Office Properties Trust from a “hold” rating to a “sell” rating in a research report on Saturday, February 16th. Finally, Wells Fargo & Co set a $25.00 price target on Corporate Office Properties Trust and gave the stock a “market perform” rating in a research report on Wednesday, January 16th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. Corporate Office Properties Trust presently has an average rating of “Hold” and an average price target of $26.17.



Shares of NYSE OFC opened at $28.01 on Wednesday. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 1.14. Corporate Office Properties Trust has a 52 week low of $20.03 and a 52 week high of $31.01. The firm has a market capitalization of $3.13 billion, a P/E ratio of 13.94, a P/E/G ratio of 2.82 and a beta of 1.03.

Corporate Office Properties Trust (NYSE:OFC) last issued its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.31). Corporate Office Properties Trust had a return on equity of 4.74% and a net margin of 13.28%. The company had revenue of $148.94 million during the quarter, compared to the consensus estimate of $150.89 million. During the same quarter in the previous year, the business posted $0.50 EPS. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. As a group, equities analysts anticipate that Corporate Office Properties Trust will post 2.04 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date is Thursday, June 27th. Corporate Office Properties Trust’s payout ratio is currently 54.73%.

In related news, Director Robert L. Denton sold 4,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $26.79, for a total value of $107,160.00. Following the transaction, the director now owns 276,000 shares in the company, valued at $7,394,040. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is currently owned by company insiders.

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

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