State Street Corp Boosts Stake in Corporate Office Properties Trust (NYSE:OFC)

State Street Corp raised its position in Corporate Office Properties Trust (NYSE:OFC) by 1.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,566,028 shares of the real estate investment trust’s stock after buying an additional 57,607 shares during the period. State Street Corp owned approximately 4.97% of Corporate Office Properties Trust worth $167,268,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in OFC. First Trust Advisors LP grew its position in shares of Corporate Office Properties Trust by 68.1% in the 1st quarter. First Trust Advisors LP now owns 79,957 shares of the real estate investment trust’s stock worth $2,183,000 after acquiring an additional 32,402 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Corporate Office Properties Trust by 12.4% in the second quarter. Commonwealth Equity Services LLC now owns 8,384 shares of the real estate investment trust’s stock valued at $221,000 after purchasing an additional 925 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Corporate Office Properties Trust by 5.6% during the second quarter. Daiwa Securities Group Inc. now owns 18,800 shares of the real estate investment trust’s stock valued at $496,000 after buying an additional 1,000 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Corporate Office Properties Trust by 2.6% during the second quarter. Arizona State Retirement System now owns 81,227 shares of the real estate investment trust’s stock valued at $2,142,000 after buying an additional 2,052 shares during the last quarter. Finally, Strs Ohio boosted its position in shares of Corporate Office Properties Trust by 1.6% during the second quarter. Strs Ohio now owns 154,504 shares of the real estate investment trust’s stock valued at $4,074,000 after buying an additional 2,484 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.

Shares of NYSE OFC opened at $29.01 on Friday. The company has a market capitalization of $3.27 billion, a PE ratio of 14.43, a PEG ratio of 3.19 and a beta of 0.83. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 1.11. The stock’s 50 day moving average price is $29.36 and its 200-day moving average price is $28.60. Corporate Office Properties Trust has a twelve month low of $20.03 and a twelve month high of $30.27.

Corporate Office Properties Trust (NYSE:OFC) last issued its quarterly earnings results on Monday, October 28th. 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 10.07% and a net margin of 27.11%. The business had revenue of $159.43 million for the quarter, compared to the consensus estimate of $154.65 million. During the same quarter last year, the business posted $0.50 earnings per share. The business’s revenue was up 16.0% compared to the same quarter last year. As a group, research analysts expect that Corporate Office Properties Trust will post 2.03 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend is Monday, December 30th. Corporate Office Properties Trust’s payout ratio is 54.73%.

In related news, Director Robert L. Denton sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $29.18, for a total value of $58,360.00. Following the transaction, the director now owns 267,568 shares in the company, valued at $7,807,634.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert L. Denton sold 2,432 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $29.63, for a total value of $72,060.16. Following the completion of the transaction, the director now owns 269,568 shares in the company, valued at approximately $7,987,299.84. The disclosure for this sale can be found here. 0.60% of the stock is owned by corporate insiders.

A number of equities research analysts recently commented on OFC shares. ValuEngine lowered Corporate Office Properties Trust from a “hold” rating to a “sell” rating in a research report on Friday, November 15th. Robert W. Baird set a $31.00 target price on shares of Corporate Office Properties Trust and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, JPMorgan Chase & Co. downgraded shares of Corporate Office Properties Trust from an “overweight” rating to a “neutral” rating and set a $30.00 target price for the company. in a report on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $28.57.

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

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