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. “
OFC has been the subject of several other research reports. KeyCorp set a $79.00 price objective on Prologis and gave the company a buy rating in a report on Tuesday, April 23rd. BTIG Research downgraded Tableau Software from a buy rating to a neutral rating in a report on Monday, June 10th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Corporate Office Properties Trust presently has a consensus rating of Hold and a consensus target price of $27.14.
NYSE OFC opened at $27.30 on Thursday. The company has a market capitalization of $3.06 billion, a P/E ratio of 13.58, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86. Corporate Office Properties Trust has a 52 week low of $20.03 and a 52 week high of $31.01. The firm’s 50 day moving average price is $27.98. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.73 and a current ratio of 1.73.
Corporate Office Properties Trust (NYSE:OFC) last released its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.31). The firm had revenue of $148.94 million for the quarter, compared to the consensus estimate of $150.89 million. Corporate Office Properties Trust had a net margin of 13.28% and a return on equity of 4.74%. The company’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.50 EPS. On average, equities analysts expect that Corporate Office Properties Trust will post 2.03 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.10 annualized dividend and a dividend yield of 4.03%. Corporate Office Properties Trust’s dividend payout ratio is 54.73%.
In related news, Director David M. Jacobstein sold 3,458 shares of the company’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $28.13, for a total transaction of $97,273.54. Following the completion of the sale, the director now owns 9,565 shares in the company, valued at $269,063.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.60% of the company’s stock.
A number of institutional investors have recently made changes to their positions in OFC. BlackRock Inc. boosted its position in Corporate Office Properties Trust by 2.1% in the first quarter. BlackRock Inc. now owns 12,596,646 shares of the real estate investment trust’s stock worth $343,888,000 after purchasing an additional 257,097 shares during the last quarter. FMR LLC boosted its position in Corporate Office Properties Trust by 33.1% in the first quarter. FMR LLC now owns 12,463,394 shares of the real estate investment trust’s stock worth $340,250,000 after purchasing an additional 3,096,607 shares during the last quarter. Principal Financial Group Inc. boosted its position in Corporate Office Properties Trust by 18.8% in the first quarter. Principal Financial Group Inc. now owns 3,402,346 shares of the real estate investment trust’s stock worth $92,884,000 after purchasing an additional 538,554 shares during the last quarter. Northern Trust Corp boosted its position in Corporate Office Properties Trust by 1.7% in the fourth quarter. Northern Trust Corp now owns 1,768,599 shares of the real estate investment trust’s stock worth $37,194,000 after purchasing an additional 29,809 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Corporate Office Properties Trust by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,657,161 shares of the real estate investment trust’s stock worth $34,850,000 after purchasing an additional 25,455 shares during the last quarter. Institutional investors and hedge funds own 96.00% 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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