According to Zacks, “Corporate Office Properties Trust is a fully-integrated and self-managed real estate investment trust that focuses principally on the ownership, management, leasing, acquisition and development of suburban office buildings located in select submarkets in the Mid-Atlantic region of the United States. Corporate Office Properties operates three real estate service companies: Corporate Development Services, Corporate Office Services and Corporate Management Services. “
A number of other research analysts have also recently commented on OFC. BTIG Research cut Tableau Software from a buy rating to a neutral rating in a research report on Monday, June 10th. KeyCorp set a $79.00 price target on Prologis and gave the stock a buy rating in a research report on Tuesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. Corporate Office Properties Trust has an average rating of Hold and an average price target of $27.14.
Shares of NYSE OFC opened at $27.30 on Thursday. The company has a quick ratio of 1.73, a current 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 company has a market capitalization of $3.06 billion, a PE ratio of 13.58, a P/E/G ratio of 2.93 and a beta of 0.86. The stock has a fifty day moving average of $27.98.
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. Research analysts anticipate that Corporate Office Properties Trust will post 2.03 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend is Thursday, June 27th. Corporate Office Properties Trust’s dividend payout ratio (DPR) is presently 54.73%.
In related news, Director David M. Jacobstein sold 3,458 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $28.13, for a total value of $97,273.54. Following the sale, the director now directly owns 9,565 shares of the company’s stock, valued at $269,063.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.60% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Texas Permanent School Fund boosted its stake 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 buying an additional 3,634 shares in the last quarter. Centersquare Investment Management LLC boosted its stake in shares of Corporate Office Properties Trust by 132.9% during the first quarter. Centersquare Investment Management LLC now owns 10,270 shares of the real estate investment trust’s stock valued at $280,000 after purchasing an additional 5,860 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Corporate Office Properties Trust by 7.1% during the fourth quarter. Geode Capital Management LLC now owns 1,349,969 shares of the real estate investment trust’s stock valued at $28,389,000 after purchasing an additional 89,540 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Corporate Office Properties Trust by 19.2% during the fourth quarter. Public Employees Retirement System of Ohio now owns 176,607 shares of the real estate investment trust’s stock valued at $3,714,000 after purchasing an additional 28,492 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in shares of Corporate Office Properties Trust during the fourth quarter valued at about $1,379,000. 96.00% of the stock is currently owned by institutional investors and hedge funds.
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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