Corporate Office Properties Trust (NYSE:OFC) Director Robert L. Denton sold 3,458 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $28.21, for a total value of $97,550.18. Following the completion of the sale, the director now owns 279,432 shares in the company, valued at $7,882,776.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
NYSE OFC traded up $0.31 during trading hours on Wednesday, hitting $28.32. 3,798 shares of the company’s stock were exchanged, compared to its average volume of 524,064. Corporate Office Properties Trust has a 12-month low of $20.03 and a 12-month high of $31.01. The company has a market capitalization of $3.13 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 2.82 and a beta of 1.03. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 1.14.
Corporate Office Properties Trust (NYSE:OFC) last released its earnings results on Tuesday, April 30th. The real estate investment trust reported $0.19 earnings per share for the quarter, missing the Thomson Reuters’ 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 business had revenue of $148.94 million for the quarter, compared to analysts’ expectations of $150.89 million. During the same quarter last year, the company posted $0.50 earnings per share. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. Equities analysts predict that Corporate Office Properties Trust will post 2.04 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.275 per share. The ex-dividend date is Thursday, June 27th. This represents a $1.10 annualized dividend and a yield of 3.88%. Corporate Office Properties Trust’s dividend payout ratio is presently 54.73%.
Several analysts have recently issued reports on the company. Wells Fargo & Co set a $25.00 price objective on Corporate Office Properties Trust and gave the company a “market perform” rating in a research report on Wednesday, January 16th. They noted that the move was a valuation call. Zacks Investment Research downgraded Corporate Office Properties Trust from a “hold” rating to a “sell” rating in a research report on Saturday, February 16th. Finally, KeyCorp downgraded Corporate Office Properties Trust from a “sector weight” rating to an “underweight” rating and set a $23.00 target price on the stock. in a research report on Tuesday, April 23rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $26.17.
A number of large investors have recently made changes to their positions in the business. Utah Retirement Systems increased its stake in Corporate Office Properties Trust by 1.3% during the first quarter. Utah Retirement Systems now owns 29,006 shares of the real estate investment trust’s stock worth $792,000 after acquiring an additional 364 shares during the last quarter. State of Alaska Department of Revenue increased its stake in Corporate Office Properties Trust by 0.8% during the first quarter. State of Alaska Department of Revenue now owns 45,209 shares of the real estate investment trust’s stock worth $1,232,000 after acquiring an additional 380 shares during the last quarter. State Treasurer State of Michigan increased its stake in Corporate Office Properties Trust by 1.3% during the first quarter. State Treasurer State of Michigan now owns 39,300 shares of the real estate investment trust’s stock worth $1,073,000 after acquiring an additional 500 shares during the last quarter. Comerica Bank increased its stake in Corporate Office Properties Trust by 0.6% during the first quarter. Comerica Bank now owns 88,967 shares of the real estate investment trust’s stock worth $2,458,000 after acquiring an additional 536 shares during the last quarter. Finally, Eaton Vance Management increased its stake in Corporate Office Properties Trust by 4.4% during the fourth quarter. Eaton Vance Management now owns 14,107 shares of the real estate investment trust’s stock worth $297,000 after acquiring an additional 593 shares during the last quarter. Institutional investors own 95.83% of the company’s stock.
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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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