Martingale Asset Management L P decreased its stake in shares of Corporate Office Properties Trust (NYSE:OFC) by 88.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,460 shares of the real estate investment trust’s stock after selling 307,993 shares during the quarter. Martingale Asset Management L P’s holdings in Corporate Office Properties Trust were worth $1,182,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. acquired a new stake in Corporate Office Properties Trust during the 4th quarter worth approximately $237,000. ARP Americas LP acquired a new stake in shares of Corporate Office Properties Trust in the 4th quarter valued at approximately $266,000. Crossmark Global Holdings Inc. acquired a new stake in shares of Corporate Office Properties Trust in the 3rd quarter valued at approximately $314,000. Schroder Investment Management Group acquired a new stake in shares of Corporate Office Properties Trust in the 3rd quarter valued at approximately $397,000. Finally, Campbell & CO Investment Adviser LLC lifted its holdings in shares of Corporate Office Properties Trust by 62.4% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 12,140 shares of the real estate investment trust’s stock valued at $399,000 after buying an additional 4,663 shares during the period.
Several equities analysts recently weighed in on the company. SunTrust Banks set a $29.00 price objective on Corporate Office Properties Trust and gave the company a “hold” rating in a research note on Friday, February 9th. Evercore ISI upgraded Corporate Office Properties Trust from an “in-line” rating to an “outperform” rating in a report on Monday, December 4th. Mizuho reiterated a “hold” rating and issued a $32.00 target price on shares of Corporate Office Properties Trust in a report on Friday, November 24th. Robert W. Baird set a $28.00 price objective on Corporate Office Properties Trust and gave the stock a “hold” rating in a research note on Friday, February 9th. Finally, TheStreet lowered Corporate Office Properties Trust from a “b-” rating to a “c” rating in a research report on Friday, February 9th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. Corporate Office Properties Trust currently has a consensus rating of “Hold” and an average price target of $30.88.
Corporate Office Properties Trust (NYSE:OFC) traded down $0.18 on Wednesday, reaching $26.10. The company’s stock had a trading volume of 816,086 shares, compared to its average volume of 874,152. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.81 and a quick ratio of 1.81. Corporate Office Properties Trust has a 12-month low of $24.77 and a 12-month high of $36.03. The firm has a market capitalization of $2,674.90, a P/E ratio of 46.11, a price-to-earnings-growth ratio of 7.68 and a beta of 0.74.
Corporate Office Properties Trust (NYSE:OFC) last announced its earnings results on Thursday, February 8th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.43). Corporate Office Properties Trust had a net margin of 11.44% and a return on equity of 4.82%. The firm had revenue of $164.57 million for the quarter, compared to analyst estimates of $143.44 million. During the same period last year, the firm earned $0.51 earnings per share. Corporate Office Properties Trust’s revenue for the quarter was up 15.9% compared to the same quarter last year. research analysts predict that Corporate Office Properties Trust will post 2.01 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Friday, March 30th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date is Wednesday, March 28th. Corporate Office Properties Trust’s dividend payout ratio is presently 192.99%.
In related news, Director Robert L. Denton sold 8,500 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $25.98, for a total value of $220,830.00. Following the completion of the sale, the director now owns 2,508 shares in the company, valued at $65,157.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Stephen E. Budorick purchased 1,600 shares of the company’s stock in a transaction that occurred on Tuesday, March 13th. The stock was acquired at an average cost of $26.26 per share, with a total value of $42,016.00. Following the transaction, the chief executive officer now directly owns 103,242 shares of the company’s stock, valued at $2,711,134.92. The disclosure for this purchase can be found here. Insiders purchased 15,400 shares of company stock valued at $429,544 over the last quarter. 0.60% of the stock is currently owned by corporate insiders.
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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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