Corporate Office Properties Trust (NYSE:OFC) Stake Lessened by Great West Life Assurance Co. Can

Great West Life Assurance Co. Can reduced its position in Corporate Office Properties Trust (NYSE:OFC) by 3.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 113,731 shares of the real estate investment trust’s stock after selling 3,473 shares during the period. Great West Life Assurance Co. Can owned approximately 0.11% of Corporate Office Properties Trust worth $3,296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Garner Asset Management Corp bought a new stake in Corporate Office Properties Trust during the second quarter valued at about $204,000. First Mercantile Trust Co. increased its holdings in shares of Corporate Office Properties Trust by 31.9% in the first quarter. First Mercantile Trust Co. now owns 7,616 shares of the real estate investment trust’s stock worth $197,000 after purchasing an additional 1,840 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Corporate Office Properties Trust in the second quarter worth about $251,000. Brown Advisory Inc. bought a new stake in shares of Corporate Office Properties Trust in the first quarter worth about $252,000. Finally, WINTON GROUP Ltd bought a new stake in shares of Corporate Office Properties Trust in the first quarter worth about $254,000.

OFC has been the topic of several research reports. Jefferies Financial Group reaffirmed a “$28.83” rating on shares of Corporate Office Properties Trust in a report on Wednesday, July 18th. Bank of America raised Corporate Office Properties Trust from a “neutral” rating to a “buy” rating and set a $34.00 target price on the stock in a report on Tuesday, August 7th. ValuEngine raised Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a report on Thursday, July 5th. Mizuho reissued a “hold” rating and set a $31.00 price objective on shares of Corporate Office Properties Trust in a research note on Monday, August 6th. Finally, Zacks Investment Research raised Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a research note on Saturday, July 28th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. Corporate Office Properties Trust currently has a consensus rating of “Hold” and a consensus target price of $31.11.

Shares of NYSE OFC traded up $0.16 during trading hours on Friday, reaching $28.85. The stock had a trading volume of 338,843 shares, compared to its average volume of 795,340. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.98 and a current ratio of 1.98. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 4.25 and a beta of 0.63. Corporate Office Properties Trust has a 52-week low of $24.55 and a 52-week high of $33.81.

Corporate Office Properties Trust (NYSE:OFC) last announced its quarterly earnings results on Thursday, July 26th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. The firm had revenue of $146.70 million during the quarter, compared to analyst estimates of $155.10 million. Corporate Office Properties Trust had a return on equity of 4.52% and a net margin of 10.81%. Corporate Office Properties Trust’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.49 earnings per share. Analysts forecast that Corporate Office Properties Trust will post 2.01 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend is Thursday, September 27th. Corporate Office Properties Trust’s dividend payout ratio (DPR) is 54.19%.

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

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?).

Further Reading: How are the companies in the S&P 500 selected?

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