Wells Fargo & Company MN Has $11.07 Million Stake in Corporate Office Properties Trust (OFC)

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Wells Fargo & Company MN increased its position in Corporate Office Properties Trust (NYSE:OFC) by 22.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 381,703 shares of the real estate investment trust’s stock after buying an additional 70,737 shares during the quarter. Wells Fargo & Company MN’s holdings in Corporate Office Properties Trust were worth $11,065,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. First Mercantile Trust Co. boosted its stake in shares of Corporate Office Properties Trust by 31.9% in the first quarter. First Mercantile Trust Co. now owns 7,616 shares of the real estate investment trust’s stock valued at $197,000 after purchasing an additional 1,840 shares during the period. Garner Asset Management Corp acquired a new stake in Corporate Office Properties Trust in the second quarter valued at $204,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Corporate Office Properties Trust in the second quarter valued at $251,000. Brown Advisory Inc. acquired a new stake in Corporate Office Properties Trust in the first quarter valued at $252,000. Finally, WINTON GROUP Ltd acquired a new stake in Corporate Office Properties Trust in the first quarter valued at $254,000.

Several research firms recently issued reports on OFC. Jefferies Financial Group reaffirmed a “$28.83” rating on shares of Corporate Office Properties Trust in a report on Wednesday, July 18th. Zacks Investment Research cut shares of Corporate Office Properties Trust from a “hold” rating to a “sell” rating in a report on Wednesday, July 11th. Robert W. Baird reaffirmed a “hold” rating and issued a $29.00 price target on shares of Corporate Office Properties Trust in a report on Wednesday, August 8th. Bank of America raised shares of Corporate Office Properties Trust from a “neutral” rating to a “buy” rating and set a $34.00 price target on the stock in a report on Tuesday, August 7th. Finally, Mizuho reaffirmed a “hold” rating and issued a $31.00 price target on shares of Corporate Office Properties Trust in a report on Monday, August 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. Corporate Office Properties Trust currently has a consensus rating of “Hold” and a consensus price target of $31.11.

In other Corporate Office Properties Trust news, Director David M. Jacobstein sold 2,500 shares of the stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $30.64, for a total transaction of $76,600.00. Following the sale, the director now directly owns 9,591 shares of the company’s stock, valued at $293,868.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert L. Denton sold 3,000 shares of the stock in a transaction on Friday, August 10th. The stock was sold at an average price of $29.97, for a total transaction of $89,910.00. Following the sale, the director now directly owns 3,458 shares in the company, valued at $103,636.26. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by corporate insiders.

Shares of NYSE:OFC opened at $30.39 on Friday. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of 14.97, a price-to-earnings-growth ratio of 4.33 and a beta of 0.63. Corporate Office Properties Trust has a 1-year low of $24.55 and a 1-year high of $33.81. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.98 and a current ratio of 1.98.

Corporate Office Properties Trust (NYSE:OFC) last issued its earnings results on Thursday, July 26th. The real estate investment trust reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.01. The company had revenue of $146.70 million for the quarter, compared to analysts’ expectations of $155.10 million. Corporate Office Properties Trust had a net margin of 10.81% and a return on equity of 4.52%. The firm’s revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.49 earnings per share. equities research analysts anticipate that Corporate Office Properties Trust will post 2.01 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be issued a dividend of $0.275 per share. The ex-dividend date is Thursday, September 27th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.62%. Corporate Office Properties Trust’s dividend payout ratio (DPR) is 54.19%.

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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