Corporate Office Properties Trust (NYSE:OFC) Lowered to Hold at StockNews.com

StockNews.com lowered shares of Corporate Office Properties Trust (NYSE:OFCGet Rating) from a buy rating to a hold rating in a report published on Thursday.

Shares of NYSE:OFC opened at $25.67 on Thursday. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of 20.37, a P/E/G ratio of 2.19 and a beta of 0.95. The firm’s 50 day simple moving average is $26.99 and its 200 day simple moving average is $27.06. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.79 and a quick ratio of 1.79. Corporate Office Properties Trust has a fifty-two week low of $23.89 and a fifty-two week high of $30.51.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $1.10 dividend on an annualized basis and a yield of 4.29%. Corporate Office Properties Trust’s payout ratio is 87.30%.

In related news, Director Robert L. Denton sold 3,416 shares of the stock in a transaction that occurred on Wednesday, May 18th. The stock was sold at an average price of $26.74, for a total transaction of $91,343.84. Following the completion of the sale, the director now directly owns 3,941 shares of the company’s stock, valued at approximately $105,382.34. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Greg J. Thor sold 2,333 shares of the stock in a transaction that occurred on Monday, March 28th. The stock was sold at an average price of $28.79, for a total value of $67,167.07. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Dark Forest Capital Management LP bought a new position in shares of Corporate Office Properties Trust during the 3rd quarter worth approximately $25,000. Riverview Trust Co bought a new position in shares of Corporate Office Properties Trust during the 1st quarter worth approximately $28,000. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Corporate Office Properties Trust by 212.5% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,356 shares of the real estate investment trust’s stock worth $66,000 after acquiring an additional 1,602 shares in the last quarter. Pinebridge Investments L.P. bought a new position in shares of Corporate Office Properties Trust during the 4th quarter worth approximately $106,000. Finally, Clal Insurance Enterprises Holdings Ltd bought a new position in shares of Corporate Office Properties Trust during the 4th quarter worth approximately $127,000.

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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