Virginia Retirement Systems ET AL Sells 9,100 Shares of Corporate Office Properties Trust (NYSE:OFC)

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Virginia Retirement Systems ET AL cut its holdings in Corporate Office Properties Trust (NYSE:OFC) by 1.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 492,200 shares of the real estate investment trust’s stock after selling 9,100 shares during the period. Virginia Retirement Systems ET AL owned approximately 0.44% of Corporate Office Properties Trust worth $14,658,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of OFC. State Board of Administration of Florida Retirement System boosted its holdings in Corporate Office Properties Trust by 1.2% during the second quarter. State Board of Administration of Florida Retirement System now owns 140,650 shares of the real estate investment trust’s stock valued at $3,709,000 after acquiring an additional 1,666 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Corporate Office Properties Trust by 2.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,567,421 shares of the real estate investment trust’s stock valued at $41,333,000 after acquiring an additional 37,918 shares during the period. Northern Trust Corp boosted its holdings in Corporate Office Properties Trust by 4.4% during the second quarter. Northern Trust Corp now owns 1,875,939 shares of the real estate investment trust’s stock valued at $49,468,000 after acquiring an additional 79,055 shares during the period. MetLife Investment Advisors LLC boosted its holdings in Corporate Office Properties Trust by 1.3% during the first quarter. MetLife Investment Advisors LLC now owns 67,204 shares of the real estate investment trust’s stock valued at $1,835,000 after acquiring an additional 836 shares during the period. Finally, Advisor Group Inc. boosted its holdings in Corporate Office Properties Trust by 141.1% during the second quarter. Advisor Group Inc. now owns 4,994 shares of the real estate investment trust’s stock valued at $132,000 after acquiring an additional 2,923 shares during the period. Hedge funds and other institutional investors own 97.23% of the company’s stock.

OFC has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut shares of Corporate Office Properties Trust from an “overweight” rating to a “neutral” rating and set a $30.00 price target for the company. in a report on Tuesday, October 8th. Citigroup upped their price objective on shares of Corporate Office Properties Trust from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Robert W. Baird set a $31.00 price objective on shares of Corporate Office Properties Trust and gave the company a “buy” rating in a research report on Wednesday, August 21st. Zacks Investment Research raised shares of Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Stifel Nicolaus set a $30.00 price objective on shares of Corporate Office Properties Trust and gave the company a “hold” rating in a research report on Wednesday, July 31st. One research 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. The company currently has an average rating of “Hold” and an average target price of $28.38.

NYSE:OFC traded down $0.06 during mid-day trading on Wednesday, hitting $29.90. The company’s stock had a trading volume of 11,959 shares, compared to its average volume of 473,369. Corporate Office Properties Trust has a fifty-two week low of $20.03 and a fifty-two week high of $30.12. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $3.34 billion, a price-to-earnings ratio of 14.94, a P/E/G ratio of 3.24 and a beta of 0.86. The stock has a fifty day moving average of $29.28 and a 200-day moving average of $28.25.

Corporate Office Properties Trust (NYSE:OFC) last posted its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.44. The firm had revenue of $175.07 million during the quarter, compared to analyst estimates of $151.18 million. Corporate Office Properties Trust had a net margin of 27.67% and a return on equity of 10.04%. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.51 earnings per share. On average, equities analysts anticipate that Corporate Office Properties Trust will post 2.03 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 3.68%. The ex-dividend date was Friday, September 27th. Corporate Office Properties Trust’s payout ratio is 54.73%.

In other news, Director Robert L. Denton sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $27.73, for a total transaction of $110,920.00. Following the completion of the sale, the director now owns 272,000 shares of the company’s stock, valued at $7,542,560. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert L. Denton sold 2,432 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $29.63, for a total transaction of $72,060.16. Following the sale, the director now directly owns 269,568 shares of the company’s stock, valued at approximately $7,987,299.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,939 shares of company stock valued at $255,959. Company insiders own 0.60% of the company’s stock.

Corporate Office Properties Trust Company Profile

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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