Green Street Investors LLC acquired a new stake in Corporate Office Properties Trust (NYSE:OFC) during the second quarter, according to its most recent disclosure with the SEC. The firm acquired 106,500 shares of the real estate investment trust’s stock, valued at approximately $3,731,000. Corporate Office Properties Trust comprises approximately 2.4% of Green Street Investors LLC’s portfolio, making the stock its 16th largest position.
Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. increased its stake in Corporate Office Properties Trust by 5,196.2% in the first quarter. BlackRock Inc. now owns 10,192,603 shares of the real estate investment trust’s stock valued at $337,374,000 after buying an additional 10,000,151 shares during the last quarter. FMR LLC increased its stake in Corporate Office Properties Trust by 372.8% in the first quarter. FMR LLC now owns 5,720,769 shares of the real estate investment trust’s stock valued at $189,357,000 after buying an additional 4,510,869 shares during the last quarter. Wells Fargo & Company MN increased its stake in Corporate Office Properties Trust by 674.8% in the first quarter. Wells Fargo & Company MN now owns 1,985,453 shares of the real estate investment trust’s stock valued at $65,719,000 after buying an additional 1,729,196 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Corporate Office Properties Trust by 64.0% in the first quarter. JPMorgan Chase & Co. now owns 3,786,671 shares of the real estate investment trust’s stock valued at $125,340,000 after buying an additional 1,477,416 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Corporate Office Properties Trust by 5.0% in the first quarter. Vanguard Group Inc. now owns 15,297,994 shares of the real estate investment trust’s stock valued at $506,363,000 after buying an additional 729,574 shares during the last quarter.
Shares of Corporate Office Properties Trust (NYSE:OFC) opened at 32.52 on Tuesday. The company has a market cap of $3.22 billion, a PE ratio of 44.61 and a beta of 0.83. Corporate Office Properties Trust has a 52 week low of $24.92 and a 52 week high of $36.03. The company has a 50 day moving average price of $34.05 and a 200 day moving average price of $33.69.
Corporate Office Properties Trust (NYSE:OFC) last posted its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.01. The firm had revenue of $151.44 million for the quarter, compared to analyst estimates of $138.04 million. Corporate Office Properties Trust had a return on equity of 6.55% and a net margin of 15.86%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.52 EPS. On average, equities analysts expect that Corporate Office Properties Trust will post $0.79 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Saturday, September 30th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 3.36%. The ex-dividend date is Thursday, September 28th. Corporate Office Properties Trust’s dividend payout ratio (DPR) is 150.68%.
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Several analysts have issued reports on OFC shares. Zacks Investment Research downgraded Corporate Office Properties Trust from a “hold” rating to a “sell” rating in a report on Wednesday, April 26th. Stifel Nicolaus reiterated a “hold” rating and issued a $33.00 target price on shares of Corporate Office Properties Trust in a report on Friday, July 14th. ValuEngine upgraded Corporate Office Properties Trust from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. BidaskClub downgraded Corporate Office Properties Trust from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $36.00 target price on shares of Corporate Office Properties Trust in a report on Tuesday, July 4th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. Corporate Office Properties Trust presently has a consensus rating of “Hold” and an average target price of $32.75.
In other Corporate Office Properties Trust news, Director Steven D. Kesler sold 3,637 shares of the business’s stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $35.40, for a total transaction of $128,749.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert L. Denton sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $34.51, for a total value of $69,020.00. Following the transaction, the director now directly owns 294,500 shares in the company, valued at approximately $10,163,195. The disclosure for this sale can be found here. Insiders have sold a total of 11,873 shares of company stock worth $404,400 in the last ninety days. Insiders own 0.60% of the company’s stock.
Corporate Office Properties Trust Company Profile
Corporate Office Properties Trust is a fully-integrated and self-managed real estate investment trust (REIT). The Company owns, manages, leases, develops and acquires office and data center properties. The Company’s segments are Defense/IT Locations; Regional Office; operating wholesale data center, and other.
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