Corporate Office Properties Trust (NYSE:OFC) Short Interest Update

Corporate Office Properties Trust (NYSE:OFCGet Rating) was the target of a large decline in short interest in April. As of April 15th, there was short interest totalling 2,760,000 shares, a decline of 16.6% from the March 31st total of 3,310,000 shares. Based on an average daily volume of 789,000 shares, the days-to-cover ratio is presently 3.5 days. Approximately 2.5% of the shares of the stock are sold short.

Shares of NYSE OFC opened at $26.78 on Wednesday. Corporate Office Properties Trust has a 52-week low of $23.89 and a 52-week high of $30.51. The stock has a market capitalization of $3.01 billion, a price-to-earnings ratio of 21.25, a price-to-earnings-growth ratio of 2.17 and a beta of 0.95. The company has a 50 day moving average price of $27.75. The company has a quick ratio of 1.32, a current ratio of 1.79 and a debt-to-equity ratio of 1.28.

Corporate Office Properties Trust (NYSE:OFCGet Rating) last issued its earnings results on Thursday, April 28th. The real estate investment trust reported $0.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.04). Corporate Office Properties Trust had a net margin of 19.78% and a return on equity of 6.67%. The firm had revenue of $195.48 million for the quarter, compared to the consensus estimate of $168.33 million. During the same period last year, the firm earned $0.56 earnings per share. The company’s revenue for the quarter was up 26.6% on a year-over-year basis. Equities research analysts anticipate that Corporate Office Properties Trust will post 2.34 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 15th. Investors of record on Thursday, March 31st were issued a $0.275 dividend. The ex-dividend date was Wednesday, March 30th. This represents a $1.10 annualized dividend and a dividend yield of 4.11%. Corporate Office Properties Trust’s payout ratio is currently 87.30%.

In other news, CAO Greg J. Thor sold 2,333 shares of the business’s stock in a transaction dated Monday, March 28th. The shares were sold at an average price of $28.79, for a total value of $67,167.07. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director C Taylor Pickett bought 20,000 shares of the firm’s stock in a transaction dated Thursday, February 24th. The shares were acquired at an average price of $24.97 per share, for a total transaction of $499,400.00. The disclosure for this purchase can be found here. 0.85% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the business. Dark Forest Capital Management LP purchased a new position in Corporate Office Properties Trust during the 3rd quarter valued at about $25,000. Riverview Trust Co bought a new position in shares of Corporate Office Properties Trust during the first quarter valued at approximately $28,000. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Corporate Office Properties Trust by 212.5% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,356 shares of the real estate investment trust’s stock valued at $66,000 after buying an additional 1,602 shares during the period. Pinebridge Investments L.P. bought a new position in Corporate Office Properties Trust in the fourth quarter worth approximately $106,000. Finally, Clal Insurance Enterprises Holdings Ltd purchased a new stake in Corporate Office Properties Trust during the fourth quarter worth $127,000.

Several brokerages have recently weighed in on OFC. Capital One Financial reissued an “overweight” rating on shares of Corporate Office Properties Trust in a research note on Wednesday, January 26th. Jefferies Financial Group cut Corporate Office Properties Trust from a “buy” rating to a “hold” rating and cut their target price for the company from $34.00 to $30.00 in a research note on Monday, January 10th. KeyCorp lowered Corporate Office Properties Trust from a “sector weight” rating to an “underweight” rating and set a $24.00 price target for the company. in a research note on Thursday, January 13th. Zacks Investment Research upgraded Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a report on Friday, February 18th. Finally, StockNews.com assumed coverage on Corporate Office Properties Trust in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Corporate Office Properties Trust has an average rating of “Hold” and an average price target of $28.50.

About Corporate Office Properties Trust (Get Rating)

COPT is a REIT that owns, manages, leases, develops and selectively acquires office and data center properties. The majority of its portfolio is 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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