State Treasurer State of Michigan Grows Holdings in Corporate Office Properties Trust (OFC)

State Treasurer State of Michigan grew its holdings in Corporate Office Properties Trust (NYSE:OFC) by 1.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,300 shares of the real estate investment trust’s stock after purchasing an additional 500 shares during the quarter. State Treasurer State of Michigan’s holdings in Corporate Office Properties Trust were worth $1,073,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. South Dakota Investment Council lifted its position in Corporate Office Properties Trust by 50.3% in the first quarter. South Dakota Investment Council now owns 86,400 shares of the real estate investment trust’s stock valued at $2,359,000 after acquiring an additional 28,900 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in Corporate Office Properties Trust in the first quarter valued at $223,000. Texas Permanent School Fund lifted its position in Corporate Office Properties Trust by 5.1% in the first quarter. Texas Permanent School Fund now owns 74,867 shares of the real estate investment trust’s stock valued at $2,044,000 after acquiring an additional 3,634 shares during the last quarter. Comerica Bank lifted its position in Corporate Office Properties Trust by 0.6% in the first quarter. Comerica Bank now owns 88,967 shares of the real estate investment trust’s stock valued at $2,458,000 after acquiring an additional 536 shares during the last quarter. Finally, Moors & Cabot Inc. lifted its position in Corporate Office Properties Trust by 100.0% in the first quarter. Moors & Cabot Inc. now owns 21,754 shares of the real estate investment trust’s stock valued at $594,000 after acquiring an additional 10,877 shares during the last quarter. 97.25% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts recently weighed in on the stock. Zacks Investment Research cut shares of Corporate Office Properties Trust from a “hold” rating to a “sell” rating in a research report on Saturday, February 16th. KeyCorp cut shares of Corporate Office Properties Trust from a “sector weight” rating to an “underweight” rating and set a $23.00 price target for the company. in a research report on Tuesday, April 23rd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $26.17.

In other news, Director David M. Jacobstein sold 3,458 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $28.13, for a total value of $97,273.54. Following the completion of the sale, the director now directly owns 9,565 shares of the company’s stock, valued at $269,063.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert L. Denton sold 4,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $26.79, for a total transaction of $107,160.00. Following the completion of the sale, the director now directly owns 276,000 shares of the company’s stock, valued at $7,394,040. The disclosure for this sale can be found here. Insiders sold 10,916 shares of company stock valued at $301,984 over the last ninety days. Corporate insiders own 0.60% of the company’s stock.

Shares of NYSE:OFC traded down $0.25 on Thursday, reaching $27.96. The company’s stock had a trading volume of 4,168 shares, compared to its average volume of 570,857. Corporate Office Properties Trust has a 52-week low of $20.03 and a 52-week high of $31.01. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.73 and a current ratio of 1.73. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 2.85 and a beta of 1.03.

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

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

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About Corporate Office Properties Trust

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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